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India’s equalisation levy of 6 per cent on online advertisement services provided by non-resident entities may come under scrutiny by the US, with President Donald Trump threatening retaliatory action against countries that impose extraterritorial taxes disproportionately affecting American companies.
“The Secretary of the Treasury, in consultation with the US Trade Representative, shall investigate whether any foreign countries are not in compliance with any tax treaty with the US, or have any tax rules in place, or are likely to put tax rules in place, that are extraterritorial or disproportionately affect American companies,” said a presidential memorandum signed by President Trump.
