Indian government is finalising a framework to tax foreign technology companies that have a user base of 500,000 and above and earn more than Rs 20 crore revenue, a move that will have a bearing on tech giants such as Google, Facebook and Twitter.
The direct tax at 35 percent would be on par with what local companies pay and will be imposed on profits earned by foreign companies in India (FYI: Google remitted $2 billion between FY14-18 from India without paying direct tax).
