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Do not give up on a fair global taxation regime

Mint Mumbai

|

March 26, 2025

India's move to withdraw its 'Google tax' is probably an attempt to soften US tariff blows but our principled advocacy of fairly split taxes on multinational companies mustn't flag

Do not give up on a fair global taxation regime

India's government seems set to drop its 6% equalization levy on online advertising services rendered to Indian advertisers by offshore digital businesses. This so-called 'Google tax-since it impacted this US-based web-search company perhaps the most, though also others like Meta and Xwas introduced in 2016, but is abruptly being withdrawn just days before US President Donald Trump's reciprocal tariffs go into force from 2 April. What this move is expected to yield, however, remains unclear. As a giveaway to US Big Tech firms that make money off India's market through borderless operations, the purpose might be to show flexibility in trade talks with America, expected to revolve around business interests. But are we giving up too much too soon? This would not be India's first concession. In August, New Delhi axed a 2% levy on e-commerce transactions, while the Union budget for 2025-26 slashed import duty on high-end vehicles that Trump is known to bat for. Given the US president's latest threat to erect steep import barriers against any country

MEER VERHALEN VAN Mint Mumbai

Mint Mumbai

BYD bursts into top 5 of India's EV firms

In the back of an almost 80% surge in sales this year so far, Chinese carmaker BYD has jumped to the fifth spot in India's electric vehicle (EV) pecking order and is revving for more.

time to read

2 mins

December 02, 2025

Mint Mumbai

Mandatory govt app on phones may spur industry pushback

A push by the Centre to phone-based curb scams by mandating a government app on every smartphone in circulation is likely to be opposed by the world's largest handset makers including Apple, Google, Samsung and even industry bodies, according to multiple executives Mint spoke with.

time to read

3 mins

December 02, 2025

Mint Mumbai

Mint Mumbai

India's CAD moderates in Q2

India’s current account deficit (CAD) moderated in the July-to-September quarter on the back of a lower merchandise trade deficit, the Reserve Bank of India said on Monday.

time to read

1 mins

December 02, 2025

Mint Mumbai

GST reset riddle

India’s latest data on goods and services tax (GST) collections was keenly awaited as a signal of the impact of midyear rate cuts.

time to read

1 min

December 02, 2025

Mint Mumbai

MEGA BANK MERGER: WILL IT AMPLIFY RISK?

The government is reportedly preparing for another round of public sector bank (PSB) consolidation, five years after the last major merger exercise brought the number of state-owned lenders down to 12 from 27.

time to read

3 mins

December 02, 2025

Mint Mumbai

Anil Ambani moves SC over fraud tag

Industrialist Anil Ambani has moved the Supreme Court challenging an order of the Bombay High Court which upheld the State Bank of India’s (SBI) decision classifying his and Reliance Communications’ accounts as fraud.

time to read

1 min

December 02, 2025

Mint Mumbai

Mint Mumbai

Mehli Mistry quits Ratan Tata’s Small Animal Hospital

Tata Trusts’ former trustee and late Ratan Tata’s close confidant, Mehli Mistry, has resigned from the board of his friend's cherished project, Small Animal Hospital Trust, which claims to have become India’s largest specialty hospital for pet animals.

time to read

1 mins

December 02, 2025

Mint Mumbai

Mint Mumbai

UK lawmaker Tulip Siddiq sentenced in Bangladesh graft case

Bangladesh court sentenced British lawmaker and former minister Tulip Siddiq in absentia to two years in jail on Monday in a corruption case involving the alleged illegal allocation of a plot of land, prosecutors said.

time to read

1 min

December 02, 2025

Mint Mumbai

Rupee at record low, no US deal drags

The rupee slid to a record low on Monday, pressured by maturing non-deliverable forward positions alongside a persistent bearish pall on the currency as India remains the among the few major economies without a trade deal with the US.

time to read

1 min

December 02, 2025

Mint Mumbai

Mint Mumbai

KOCHI'S BOATS CHART A NATIONAL COURSE

India wants to modernize its ancient waterways for mass transit. Can it be a game changer?

time to read

8 mins

December 02, 2025

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