The Resource India's tryst with the taxation of digital economy - focus on equalisation levy

India's tryst with the taxation of digital economy - focus on equalisation levy

Label
India's tryst with the taxation of digital economy - focus on equalisation levy
Title
India's tryst with the taxation of digital economy - focus on equalisation levy
Creator
Subject
Language
  • eng
  • eng
Summary
Digital economy and its unprecedented growth warranted global deliberations on the viability of existing principles of international tax law, as the current nexus rules seemed archaic to tax the business models in a digital economy. Digital businesses, which rapidly scale across borders, exploit business models, which preclude the necessity of physical presence in source jurisdictions. For instance, while a large extent of value is created in the west, the internet user database is skewed towards South Asia, which is accessed and monetised without necessitating a nexus in the source country. The G20 and OECD have been working towards a multilateral (unified) solution to this challenge as well as minimum taxation in market economies. In the meantime around 20 countries, owing to revenue and domestic political pressures, have unilaterally adopted measures (e.g. digital services tax, withholding tax et cetera) to tax digital business based on varied criteria. As of April 2020, many countries such as the U.K., France, Austria, Italy, Turkey, Vietnam, Greece and Indonesia have implemented a DST or withholding tax on digital services
Citation source
In: Beck.digitax. - M√ľnchen. - (2020), no. 4 ; p. 224-227
http://library.link/vocab/creatorName
Sabnis, S
Geographic coverage
  • International
  • Asia
Language note
English
http://library.link/vocab/subjectName
  • DST
  • digital economy
  • equalization tax
  • withholding tax
  • international taxation
  • Unified Approach (OECD)
Label
India's tryst with the taxation of digital economy - focus on equalisation levy
Link
https://library.ibfd.org/custom/web/SD_PDF/scans/2020/A-D/BECKDI/4_224-227.pdf
Publication
Note
20201113

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