India: Implemented India-USA agreement on transitional approach for OECD/G20 Inclusive Framework Implementation of Pillar One

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Implemented India-USA agreement on transitional approach for OECD/G20 Inclusive Framework Implementation of Pillar One

On 28 November 2021, the United States Trade Representative (USTR) terminated the additional duties imposed on the products from India. The USTR announced the Termination of Action in the Digital Services Tax Investigation of India and Further Monitoring due to the implementation of the agreement signed by the United States and India on 24 November 2021. India joined the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting in reaching a political agreement on a two-pillar solution to address tax challenges arising from the digitalisation of the world economy on 8 October 2021, agreeing to withdraw the Digital Services Taxes and similar tax measures. Under the Agreement, India committed to not impose Digital Services Taxes on companies from 8 October 2021 until 31 December 2023 or the entry into force of the Multilateral Convention.

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Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
cross-cutting
Implementation Level
bi- or plurilateral agreement
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

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2021-11-24
under deliberation

The India and USA have agreed that the "Equalisation levy" on e-commerce supply of services will be…

2021-11-28
in force

On 28 November 2021, the United States Trade Representative (USTR) terminated the additional duties…