Quick Summary
On October 8, 2021, India and United States joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, France, Italy, Spain, and the United Kingdom) in reaching agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of
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FAQ :
India and the US have agreed on a transitional approach to address the challenges arising from the digitalization of the economy, specifically concerning India's 2% Equalisation Levy on e-commerce services.
The Equalisation Levy is India's 2% charge on the e-commerce supply of services.
The US was considering trade action regarding India's 2% Equalisation Levy on e-commerce supply of services.
The interim period will be from April 1, 2022, until the implementation of Pillar One or March 31, 2024, whichever is earlier.
The final terms of the agreement are expected to be finalised by February 1, 2022.
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