Facebook and Google Seek to Delay Paying India's Digital Tax

Tech heavyweights including Facebook (NASDAQ: FB) and Alphabet's(NASDAQ: GOOG)(NASDAQ: GOOGL) Google are looking to defer paying India's 2% digital tax, according to a Reuters report from Tuesday.

Last week, India announced that digital service providers will be subject to a 2% tax. This tax, also known as equalisation levy, will be charged on the services provided in India where the payments are taken abroad.

E-commerce companies such as Amazon and eBay will also be affected by the tax. In fact, any overseas platform that streams, advertises, or sells goods to an Indian IP address will be taxable, according to the new law that is set to be implemented starting April 1.

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Source Fool.com