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.
Mumbai: After beau Arjun Kapoor declared publicly that he is not dating anyone right now,…
Mumbai: Even though Aishwarya Rai and Abhishek Bachchan have maintained a dignified silence over their…
Bhubaneswar: Siddhant Das has sought to step down as Chairman of Odisha Real Estate Regulatory…
Hyderabad: Odisha FC went on a scoring spree at the Gachibowli Stadium as they humbled hosts…
Mumbai: Filmmaker Anurag Kashyap’s directorial debut ‘Paanch’ is finally going to see the light of…
Mumbai: Actress Taapsee Pannu, who has shared screen space with very few A-listers, has now…
Bhubaneswar: Vigilance has arrested a Forester and a Gaon Sathi (village mate) for alleged misappropriation…
Mumbai: Ten days ago, Vaibhav Suryavanshi made headlines after becoming the youngest cricketer to make…