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Cracks emerge in global deal on taxing tech giants
FILE PHOTO: Facebook, Google and Twitter logos are seen in this combination photo from Reuters files. REUTERS
Synopsis
India will have to continue with equalisation levy longer than it expected
Cracks have begun to appear in the bloc representing the world’s richest on reaching a deal over taxing global technology majors such as Google and Facebook, with the delay in reaching common ground prompting countries like India to continue to apply an equalisation levy on their earnings.
Several low-tax countries, such as Ireland, Cyprus and Barbados, are opposing the tax deal pushed by the Organisation for Economic Development and