India and USA agree on a transitional approach on Equalisation Levy 2020

  • IASbaba
  • November 29, 2021
  • 0
UPSC Articles
Print Friendly, PDF & Email

India and USA agree on a transitional approach on Equalisation Levy 2020

Part of: Mains GS-II: International Laws and Acts

In News: India and United States have joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, France, Italy, Spain, and the United Kingdom) in reaching agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy.

India and United States have agreed that the same terms that apply under the October 21 Joint Statement shall apply between the United States and India with respect to India’s charge of 2% equalisation levy on e-commerce supply of services and the United States’ trade action regarding the said Equalisation Levy.

News Source: PIB

For a dedicated peer group, Motivation & Quick updates, Join our official telegram channel – https://t.me/IASbabaOfficialAccount

Subscribe to our YouTube Channel HERE to watch Explainer Videos, Strategy Sessions, Toppers Talks & many more…

Search now.....

Sign Up To Receive Regular Updates