India’s Digital Taxation – Time to end the dilemma
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- Last Updated on 28 January, 2022
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Ankita Chowdhry – [2022] 134 taxmann.com 277 (Article)
Due to the several challenges posed by the COVID-19 pandemic, the world has witnessed adoption of technology at an exponential rate and a tectonic shift in business models.
By way of OECD project, around 137 countries have agreed to collaborate to form a global tax landscape and address issues arising out of digitization. While several countries have introduced unilateral measures such as introduction of digital taxes, OECD’s focus is to eliminate such unilateral measures and come up with a consensus based solution. Tech giants like Facebook, Google, Amazon, etc. carrying on businesses around the world with minimal / zero presence in market jurisdictions would now have to pay their fair share of tax in such countries.
In October 2021, OECD/ G20 Inclusive Framework on BEPS (IF) agreed on a two-pillar solution to address the tax challenges arising from the digitalization and provided timelines for implementation.
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