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Equalization levy proposal will increase taxes on startups to 24%: IAMAI

The Internet and Mobile Association of India (IAMAI) says that the government's proposal for an equalization levy for startups will severely increase costs for tech startups in the country. The IAMAI says that startups currently have to pay 14.5% service tax to use ad platforms. With the proposed GST, this would be raised to 18% and companies will have to pay an additional 6% equalization levy. Readers will recall that the during the Union Budget 2016, the government had proposed a 6% equalization levy on B2B online services and advertising, which was dubbed the ‘Google Tax‘.   The government recommended that many other services, even simple online activities such as sending and receiving emails, downloading content and even blogging, would be brought under its ambit. The IAMAI estimates that the impact of equalization levy on ad platforms will be Rs 429 crore in addition…

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