Wednesday, July 28, 2004

India Easing Tax on Outsourcing

Sify.com reports India will ease the tax burden on multinationals outsourcing work to units in India.

"The rule change removes a distinction that had meant the outsourcing units of multinationals were taxed more heavily than other parts of their business in India, the Economic Times said in an unsourced report."

"The newspaper said Finance Minister Palaniappan Chidambaram had resolved the issue and a foreign company would now be taxed more heavily only if paid its dependent Indian unit less than the market rates for a service."

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