New Delhi: India is looking for to tax Netflix Inc’s revenue earned from streaming providers within the nation, the Economic Times reported on Friday, citing folks accustomed to the matter.
In a draft order, the tax authorities attributed an revenue of about 550 million rupees ($6.73 million) to Netflix’s Indian everlasting institution (PE) within the evaluation yr 2021-22, the report added. (Also Read: Meet Linda Yaccarino, The Woman Rumoured To Be New Twitter CEO –In Pics)
Tax officers reasoned that the U.S. agency had some staff and infrastructure from the mother or father entity on secondment in India to assist its streaming providers, resulting in a PE and tax legal responsibility, the publication reported. (Also Read: Elderly Woman Separated By Family, Google Translate Helped Her Reunite – Here’s How)
The transfer is the primary time India will tax abroad digital corporations offering digital commerce providers to customers, the folks informed to ET.
Netflix didn’t reply to a Reuters’ request for remark.