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Tag: Income tax
Apple Seeks Tax Law Changes in India Amid Manufacturing Expansion
Apple is reportedly urging India to modify decades-old tax provisions that could trigger significant tax exposure on equipment it owns in local iPhone factories. The company seeks alignment with its global manufacturing model as it expands Indian operations. Legal experts suggest India’s stance may stem from previous tax rulings involving foreign companies.
Apple’s Tax Law Concerns in India
Apple is reportedly lobbying the Indian government to amend a decades-old tax law that could expose the company to billions of dollars in taxes on equipment it owns inside local iPhone factories, according to Reuters reports. Sources indicate the technology giant is urging modifications to provisions in the Income Tax Act of 1961 to ensure it isn’t taxed simply for owning high-value manufacturing machinery supplied to its contract manufacturers, including Foxconn and Tata Electronics.