Media

IT Department To Tax Netflix’s India Operations: Report

By
OB Bureau

New Delhi: India is seeking to tax Netflix Inc’s income earned from streaming services in the country, the Economic Times reported on Friday, citing people familiar with the matter.

In a draft order, the tax authorities attributed an income of about Rs 550 million ($6.73 million) to Netflix’s Indian permanent establishment (PE) in the assessment year 2021-22, the report added.

Tax officials reasoned that the U.S. firm had some employees and infrastructure from the parent entity on secondment in India to support its streaming services, leading to a PE and tax liability, the publication reported.

The move is the first time India will tax overseas digital companies providing electronic commerce services to consumers, the people told to ET. Netflix did not respond to a Reuters’ request for comment, the report added.

OB Bureau

Recent Posts

After Breakup, Malaika Arora’s Relationship Status Is ‘Hehehe’

Mumbai: After beau Arjun Kapoor declared publicly that he is not dating anyone right now,…

November 25, 2024

Amid Aishwarya & Abhishek’s Divorce Rumours, Shweta Gifts Flowers To Ash’s Sister-In-Law

Mumbai: Even though Aishwarya Rai and Abhishek Bachchan have maintained a dignified silence over their…

November 25, 2024

Siddhant Das To Step Down As Chairman Of Odisha Real Estate Regulatory Authority

Bhubaneswar: Siddhant Das has sought to step down as Chairman of Odisha Real Estate Regulatory…

November 25, 2024

ISL: Odisha FC Hammer Hyderabad 6-0, Biggest Win Of The Season

Hyderabad: Odisha FC went on a scoring spree at the Gachibowli Stadium as they humbled hosts…

November 25, 2024

Anurag Kashyap’s ‘Debut’ Film ‘Paanch’ To Be Released After 22 Years!

Mumbai: Filmmaker Anurag Kashyap’s directorial debut ‘Paanch’ is finally going to see the light of…

November 25, 2024

Taapsee Pannu Wants To Work With Big Heroes For This Reason

Mumbai: Actress Taapsee Pannu, who has shared screen space with very few A-listers, has now…

November 25, 2024

Vigilance Arrests Forester & ‘Gaon Sathi’ For Misappropriation Of Rs 10 Lakh Govt Funds In Odisha’s Koraput

Bhubaneswar: Vigilance has arrested a Forester and a Gaon Sathi (village mate) for alleged misappropriation…

November 25, 2024

IPL Auction: Vaibhav Suryavanshi Becomes A Crorepati At 13! Bhuvi Bags Rs 10.75 Cr

Mumbai: Ten days ago, Vaibhav Suryavanshi made headlines after becoming the youngest cricketer to make…

November 25, 2024