India’s Finance Minister Advocates Global Collaboration on Tech Firm Tax Evasion

  • Finance Minister Nirmala Sitharaman raises concern over tech firms making profits in one country but paying taxes elsewhere.
  • Problematic ‘flipping’ has led to brain drain, loss of intellectual property and tax revenue for India; measures to reverse flipping are being proposed.
  • Sitharaman highlights practices of tech giants like Apple, Google, Microsoft, and Meta registering in tax-friendly countries.
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