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G7 decision to force Amazon, FB, Google pay tax where services sold: CAIT
By IANS |
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Delhi HC refuses to restrain Amazon, says suit filed by Future Retail maintainable. Image Source: IANS News
New Delhi, June 6 : The Confederation of All India Traders (CAIT) has hailed and appreciated the agreement reached out between members of Group of Seven (G7) at their meeting on Saturday where the world s richest nations agreed to close cross-border tax loopholes used by some of the biggest multinational companies and have decided to back a minimum global corporation tax rate of at least 15 per cent.
This move, though at a very preliminary stage and if implemented, will certainly put checks and balances on the business practices of multinational companies and could be termed as a most progressive step which will bring a diagonal reform in international taxation system having vital bearings on the working of large number of multinational companies who are devising way
This move, though at a very preliminary stage and if implemented, will certainly put checks and balances on the business practices of multinational companies and could be termed as a most progressive step which will bring a diagonal reform in international taxation system having vital bearings on the working of large number of multinational companies who are devising ways and means to avoid the tax liability to the exchequer of consuming countries, CAIT said. Howe
The domestic traders body CAIT in its letter welcomed the Delhi government’s decision to unlock the city but opposed the idea of odd-even formula, stating that it has never suited for the business character of Delhi.