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Google stares at tax slap in India

Nov 2, 2018 by The Passage Team
Google stares at tax slap in India

Google India may face a fresh tax liability on the USD 2.18 billion (INR 16,119.6 Cr) of revenue it earned from India over the past five years, which it has remitted to its subsidiaries in Ireland and Singapore.

In a report, ET analysed five years of financial statements from the company, noting that Google India had remitted a total of USD 2.18 billion (INR 16,119.6 Cr) towards expense on “purchase of advertising space”. This is the biggest cost item in Google India’s profit and loss statement under ‘Miscellaneous Expenses’ for the period 2013-14 to 2017-18, as per regulatory filings made with the Registrar of Companies.

These transfers amount to about 50-60% of the company’s total revenue in India over the five-year period.

Source: Inc42

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