WEBINAR ON EQUALISATION LEVY AS EXPANDED BY THE FINANCE ACT 2020 – CONCEPT AND PANEL DISCUSSION

Background:

Vide the Finance Act, 2020, the Indian Government has expanded the scope of Equalisation Levy (‘EL’) payable by Non-Residents in India. The EL was first introduced by the Finance Act, 2016. As per expanded EL provisions, which were not proposed in the Finance Bill 2020, an EL at the rate of 2% is chargeable on consideration (exceeding the threshold prescribed) received or receivable by a non-resident e-commerce operator (who owns, operates or manages digital or electronic facility) from e-commerce supply or services (online sales of goods or provisions of services) made or provided or facilitated by it. The scope of EL has been kept outside the provisions of the Income-tax Act 1961 and therefore outside the protection of Tax Treaties.

Such expanded scope of EL has raised many interpretation issues on its applicability and has far reaching implications on cross border transactions. As per recent press releases the much awaited clarification expected on EL from the Government is also unlikely to be forthcoming.

In this regard, the International Taxation Committee of the Chamber of Tax Consultants is pleased to invite you to a live webinar wherein a presentation on EL and panel discussion will be conducted as per following details.