Taxes on Global Digital Corporations – Notifications of SEP Thresholds
17/07/2023
Taxation
By jiten
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TAXES ON GLOBAL DIGITAL CORPORATIONS – NOTIFICATIONS OF SEP THRESHOLDS
The Government of India recently notified the relevant threshold to constitute ‘Significant Economic Presence’ (SEP). The concept of SEP was introduced in the Income-Tax Act, 1961 (‘ITA’) from April 1, 2018.
Watch this LawWiser IN A MINUTE video powered by Phoenix Legal, where, Pranav Srivastava, Partner, Phoenix Legal, takes us through the highlights of this notification. He also shares the highlights and the objective of this law which is to tax the income of non-residents operating online digital platforms.
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