Which kind of business is the equalisation levy meant to tax?
ASmall resident traders only
BOverseas firms with no office
CGovernment-owned bodies only
DResident banks and insurers
Answer & Solution
Correct answer: B. Overseas firms with no office
The levy reaches multinational companies that earn from Indian customers without any physical presence in the country.
Keep practising Taxation of Digital Goods
Browse all Taxation of Digital Goods questions for CA Final, or explore more Taxation topics.
Related questions
How many Actions does the OECD BEPS project consist of?Which additional PE does the UN Model Tax Convention add in article 5(3)b?Under the OECD Model Tax Convention, which is one of the three essential types of permanenThe OECD technical guidance of 2 February 2023 concerned which set of rules?What did the 1992 Ruding Committee propose for EU member states?How many countries backed the OECD global minimum tax plan on 1 July 2021?In June 2021 the G7 finance ministers endorsed a global minimum corporate tax rate of at lWhich two countries published the joint Pillar Two proposal for a global minimum effective