The latest addition to our series of brief insights into the workings of the UK and supranational bodies reviewing the taxation of digitalisation of business.
24 July 2024 - Indian Budget FY2024-25 announces intention to abolish 2% Equalisation Levy on e-commerce services
The Indian Budget for FY2024-25 included an announcement that the Equalisation Levy applicable on e-commerce supply or services at the rate of 2% is proposed to be
abolished w.e.f. 1 August 2024. We had recently seen the US and India agree to extend the compromise for this levy in relation to credit against Amount A of Pillar One and lack of counter measures.
This leaves the 6% Equalisation Levy on specified services in place.
For a wider discussion of the Budget measures, see our Budget Briefing
