Equalisation levy on specified digital services introduced as a final withholding to tax nonresident suppliers. The Finance Act, 2016 revises direct tax rates and withholding rules; phases in POEM residence with a transition chapter for first time resident foreign companies; implements BEPS style master file and Country by Country reporting with penalties; introduces sectoral tax measures including exemptions for strategic oil storage, DDT exemption for SPV distributions to business trusts, a new securitisation trust regime, start up and patent incentives, and phased out investment deductions; creates an exit tax for charities converting to non charitable entities; tightens penalty and compliance frameworks including electronic data processing; and establishes the Direct Tax Dispute Resolution Scheme and an Equalisation Levy on specified digital services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Equalisation levy on specified digital services introduced as a final withholding to tax nonresident suppliers.
The Finance Act, 2016 revises direct tax rates and withholding rules; phases in POEM residence with a transition chapter for first time resident foreign companies; implements BEPS style master file and Country by Country reporting with penalties; introduces sectoral tax measures including exemptions for strategic oil storage, DDT exemption for SPV distributions to business trusts, a new securitisation trust regime, start up and patent incentives, and phased out investment deductions; creates an exit tax for charities converting to non charitable entities; tightens penalty and compliance frameworks including electronic data processing; and establishes the Direct Tax Dispute Resolution Scheme and an Equalisation Levy on specified digital services.
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