India has much to gain if U.S. President Joe Biden focusses more on expanding bilateral free trade and investment, rather than go ahead with his tax proposals. But it won’t be easy.
The tax measures outlined in the Budget 2021 had the stated objective of providing greater clarity and making India’s tax regime transparent and efficient.
The technology sector, which is one of the drivers of economic growth, wants fiscal measures, such as putting the services sector on a par with manufacturing, implemented in this year's Budget.
The Covid-19 pandemic has put many sectors under stress. They can get a much-needed fillip if the government were to consider a few changes in the tax structure.
Frustrated by the slow pace of discussions and anxious to mobilise revenue considering the Covid-19 pandemic, several countries have taken unilateral measures to tax the digital economy.
