The Indian Finance Ministry issued a November 24 press release announcing that it had agreed with the United States on a transitional approach to the 2% Indian Equalisation levy (the ‘Indian EL’ or digital tax) on e-commerce supply or services. The US Treasury also announced this agreement through a press release.
This agreement will be in effect during the interim period until Pillar One, relating to new nexus and profit allocation rules, comes into effect through a multilateral convention (MLC) in 2023.
Source PwC
For other newsitems on the Equalisation Levy in India, click HERE
Latest Posts in "India"
- Nirmala Sitharaman Explains GST Reforms Using Popcorn Example to Highlight Classification Challenges
- GST Overhaul: Cheaper Small Cars, Bikes; Higher Tax on Premium Vehicles from September 22, 2025
- GST Revamp: 40% Tax on Sin Goods and Luxury Items Explained
- GST Council Unveils Next-Gen Reforms: Export Services, Refunds, Tribunal, and Rate Simplification
- India’s GST Council Recommends Tax Exemptions, Simplified Structure, and Rate Reductions Effective September 22
