The global solution is aimed to ensure multinational entities pay more taxes in countries where they have customers or users than from where they operate.
Worried that the proposed global digital tax deal covering only top 100 companies may not lead to sufficient revenue for developing countries, India, along with other Group of 24 (G24) member nations, has objected to the withdrawal of unilateral measures like the equalisation levy (EL) in one go.
The stand by the emerging markets grouping could potentially derail the finalisation of the global multilateral solution to tax large digital companies such as Google, Facebook, and Netflix in October. The October meeting of the Organisation for Economic Cooperation and Development (OECD) on global digital tax is being finalised on the broad understanding
First Published: Sep 22 2021 | 8:26 PM IST