Global MNCs and startups seek delay of equalisation levy

Global MNCs and startups represented by nine associations including the USIBC, DigitalEurope and Japan Electronics and Information Technology Industries Association, have together sought for delayed implementation of equalisation levy by nine months.

In a collective letter to finance minister Nirmala Sitharaman the associations have also sought for formal consultations with stakeholders on the expansion of the levy, noting the limited timeframe within which the government approved and effected the levy left no time for any dialogue with the impacted firms.

“We write to respectfully request a formal stakeholder consultation on the expansion of the equalisation levy and a delay by at least nine months of the implementation,” the associations said in a letter to Sitharaman dated April 29.