On October 8, 2021, a landmark deal was reached amongst over 130 countries where the broad contours of Two Pillar Solution to Address the Tax Challenges arising from the Digitization of the Economy was finalized . The key impetus of these global negotiations was to stop digital services taxes from being imposed by different countries unilaterally. There is also an agreement between US and India, as regards to the interim arrangement, till the time the Global Tax Deal is put in place.
Against this backdrop, Stella Joseph (Partner) and Rushil Shah (Senior Associate) at Economic Laws Practice (ELP) have co-authored an article for Medianama titled ‘Interpreting The India-US Interim Agreement On Equalisation Levy 2020’. In their article, Stella and Rushil elaborate on the terms agreed upon by both countries and how it would impact tech companies.
Read the detailed article here: https://bit.ly/31gp13r