Physically Absent, Fiscally Present: Taxing Digital Economy
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- Last Updated on 19 August, 2021
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Shivam Gupta – [2021] 129 taxmann.com 195 (Article)
The advancement in the technologies and easy accessibility of internet and Internet of Things (“IoT”) has unequivocally transformed the business models. Companies like Uber which primarily earns by providing taxi facility owns no vehicle. Facebook, the social media giant creates no content. Alibaba, the global level player in retail business has zero inventory. Similarly, companies like GAFA, MasterCard, Netflix operate globally without having need of any physical presence in the source country (“India”).
This paradigm shift from physical world to the digital world has caused serious tax issues. To overcome these issues the concept of digital tax has been introduced. A Digital tax is a tax levied on the revenues of transnational corporations that performs the selling function and provides the services over the internet.
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