In what appears to be yet another setback for Amazon, Indian tax officials have announced plans to levy a tax on cloud services fees paid by the ecommerce giant to the United States.
The new rules are said to have been communicated to Amazon earlier this month and may result in’significant’ taxation for the company. The company will be required to pay taxes for a period that could extend several years prior to the date of order. The tax authority that issued the new order involving Amazon is not immediately clear. The company claimed that the tax authority’s decision was “without merit” and that it would vigorously defend its position.
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Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
In what appears to be yet another setback for Amazon, Indian tax officials have announced plans to levy a tax on cloud services fees paid by the ecommerce giant to the United States.
The new rules are said to have been communicated to Amazon earlier this month and may result in’significant’ taxation for the company. The company will be required to pay taxes for a period that could extend several years prior to the date of order. The tax authority that issued the new order involving Amazon is not immediately clear. The company claimed that the tax authority’s decision was “without merit” and that it would vigorously defend its position.
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.
