Business Standard

Monday, December 23, 2024 | 06:27 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

India to be impacted as US works on $1 bn tariff plan over digital taxes

In each of the six cases, the USTR proposes to impose tariffs that would roughly total the amount of tax revenue each country is expected to get from the U.S. companies

cargo
Premium

The Internet Association -- whose members include Amazon, Facebook and Alphabet Inc.’s Google -- welcomed the USTR’s move.

Ana Monteiro | Bloomberg
The US is pressing ahead with plans to hit six nations that tax Internet-based companies with retaliatory tariffs that could total almost $1 billion annually.

Goods entering the U.S. -- ranging from Austrian grand pianos and British merry-go-rounds to Turkish Kilim rugs and Italian anchovies -- could face tariffs of as much as 25% annually, documents published by the U.S. Trade Representative show. The duties are in response to countries that are imposing taxes on technology firms that operate internationally such as Amazon.com Inc. and Facebook Inc.

In each of the six cases, the USTR proposes to impose tariffs that

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in