News that fits you

Highlights

  • India seeking to tax Netflix on income earned from country: report
  • About $ 550 million attributed to Netflix's Indian permanent establishment

Latest news

Russia claims capture of two new villages in east Ukraine: agencies

Russia claims capture of two new villages in east Ukraine: agencies

Uttar Pradesh: Six killed in Shahjahanpur road accident

Uttar Pradesh: Six killed in Shahjahanpur road accident

US Govt urges Supreme Court to dismiss Mumbai terror accused Rana's petition for writ of certiorari

US Govt urges Supreme Court to dismiss Mumbai terror accused Rana's petition for writ of certiorari

HRW accuses Israel of 'acts of genocide' for Gaza water access

HRW accuses Israel of 'acts of genocide' for Gaza water access

Arvind Kejriwal urges NDA allies to reconsider support for BJP over Amit Shah’s Ambedkar remark

Arvind Kejriwal urges NDA allies to reconsider support for BJP over Amit Shah’s Ambedkar remark

Nuclear-armed Pakistan says fresh US sanctions 'biased'

Nuclear-armed Pakistan says fresh US sanctions 'biased'

Andhra High Court upholds lesbian couple’s right to live together, parents told not to ‘interfere’

Andhra High Court upholds lesbian couple’s right to live together, parents told not to ‘interfere’

Mumbai boat tragedy: Life jackets made mandatory for rides from Gateway of India

Mumbai boat tragedy: Life jackets made mandatory for rides from Gateway of India

In a first, govt to tax Netflix on the income earned from India: report

The Income Tax department has attributed $ 550 million to Netflix's Indian permanent establishment and is seeking to tax its earnings from India

Updated: Sep 02, 2022 10:53
|

Editorji News Desk

In a first, govt to tax Netflix on the income earned from India: report

The Income Tax department is seeking to tax Netflix on the income it earned through the streaming services in India, reported The Economic Times. In a draft order, the tax department has attributed an income of about ₹ 550 million to the company's Indian permanent establishment in the assessment year 2021-22.

This will be the first time a foreign digital company that provides electronic commerce services to customers will be taxed by India. The Income Tax department has said that Netflix has some employees and infrastructure in the country. However, the presence is as an secondment from the parent compay which leads to a PE and tax liability.

India has been mulling over digital tax to regulate digital economy and to ensure that foreign companies pay taxes on the revenue they earn in the country.

ADVERTISEMENT

Up Next

In a first, govt to tax Netflix on the income earned from India: report

In a first, govt to tax Netflix on the income earned from India: report

New Zealand falls into recession with abrupt economic slowdown

New Zealand falls into recession with abrupt economic slowdown

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

ADVERTISEMENT

editorji-whatsApp

More videos

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

India’s import of Russian oil drops in November on shrinking discounts

India’s import of Russian oil drops in November on shrinking discounts

Categories

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.