India’s earnings from the contentious 2 per cent equalization levy on non-resident digital players like Google, Netflix, and Amazon nearly quadrupled in the first quarter of the current fiscal year.
- Choosing the best demat account in 2025
- People’s Bank of China Stops Bond Buying
- Nifty, Sensex Suffer Biggest Weekly Loss in a Month Due to Persistent FII Selling
- Canada-Based Startup Launches North
- Economy of India Set to Grow 6.6% in 2025
This comes in the backdrop of India agreeing to the global tax deal proposal at the Organization for Economic Cooperation and Development (OECD), which will require New Delhi to withdraw the equalization levy by 2023. Collection from the levy, or the so-called Google tax, grew 260 per cent in the first quarter of 2021-22 at Rs 778 crore against Rs 216 crore during the same time.
