THE government has hiked the tax on royalty and fees from technical services earned by non-resident companies from 10% to 20%.
The hike in tax on royalty was one of the amendments proposed in ‘The Finance Bill, 2023’ which was tabled in the lower house by the Union Finance Minister Nirmala Sitharaman on Friday. The Finance Bill, 2023, which contains various proposals related to taxation and government spending, was passed with several amendments and 20 more Sections have been added to the Bill.
This story is from the March 25, 2023 edition of The Morning Standard.
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This story is from the March 25, 2023 edition of The Morning Standard.
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