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CBDT exploring new ways to tax big tech companies, says report

CBDT exploring new ways to tax big tech companies, says report

CBDT exploring new ways to tax big tech companies, says report
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By CNBC-TV18 Aug 20, 2019 9:29:58 AM IST (Published)

The Central Board of Direct Taxes (CBDT) is considering to adopt new ways to tax global tech giants like Google, Amazon, Uber and Facebook, that invoice their revenues out of India while maintaining operations in the country with minimum profit, The Times of India reported, citing a senior official.

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The development comes even as the developed internet economies across the world attempt to explore ways to tax the big tech companies.
According to the government official cited in the report, the CBDT will discuss the same at a meeting next month with the Organisation of Economic Cooperation and Development (OECD), the report said.
“All countries are trying to find a consensus on major tech companies. There is a meeting in the first week of next month in the OECD in this regard where we will be consulting on this issue,” the official was quoted as saying in the report, who added that India wants to bring laws in accordance to international practice.
"These consultations are part of CBDT’s measures to amend changes in the tax law that would enable the government to impose higher tax from Indian entities of the Big Tech players," the report added.
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