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Economy

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This tax levy (burden) was invited by the tech industry themselves, through their super-smart tax planning (some may call it as evasion). Governments are forced to take actions to plug some of the holes and as an additional safeguard against BEPS (Base Erosion and Profit Shifting). I hate to admit it, but Governments are right here, they can’t simply watch as their revenue gets eroded with the economy shifting to digital. Among many of the ‘bad’ tax ideas, I suppose this 2% Additional Equalisation Levy appears to be okay. The application threshold set by India, of a turnover of Rs.2…

About 2 decades ago, I had the opportunity to work as an IT partner for the early digital editions of a few popular newspapers in India, and I know the challenges and difficulties they are facing, from then till now, with the continued decline of revenues from their physical subscriptions and paper advertisements. As Mr Jeff Zucker, the then the president of NBCUniversal, had said in 2008 they are “trading analogue dollars for digital pennies”. Similarly in 2007, Mr Andrew Rashbass (then Publisher and MD of The Economist, a magazine I love) had said: “With Internet advertising, the thumb rule…