US had last March proposed retaliatory trade actions against India and other countries that imposed or were considering equalisation levy/digital services tax on e-commerce firms.
The office of the US Trade Representative said the taxes are 'inconsistent with prevailing principles of international taxation, and burden or restricts U.S. commerce.'
Determinations on the 3 countries are due because all of them have instituted so-called digital services taxes — or levies on local sales of companies such as Google — this year.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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