India wants fair share of $100 billion global taxes from Google, Facebook

MUMBAI: India is pushing for a major change at Organisation for Economic Cooperation and Development (OECD) on methodology at determining taxability in every jurisdiction hoping to tap a larger share of tax from multinationals such as Google, Facebook, Amazon and Netflix.

OECD recently said that income tax collections of major digital companies could go up by around $100 billion if new tax regulations are formed and adopted by all countries.

With a hope of getting larger chunk of $100 billion in global taxes to be paid by digital companies, India is pushing that number of users should determine taxes payable by digital majors in a country. The OECD under its Base Erosion and Profit Shifting (BEPS) initiative has come up with a number — $ 100 billion — in additional taxes digital majors need to pay globally.