The government may need to reconsider the tax incentives offered to units in the International Financial Services Centre (IFSC) in Gujarat due to the impact of Pillar Two of the Base Erosion Profit Sharing framework, according to a Deloitte report. Pillar Two aims to ensure that large multinational companies pay a minimum effective rate of tax of 15% on profits in all countries. Units in IFSC may not have enough employees and assets to avail of the benefits, so they will need to evaluate the overall tax impact in India after the implementation of Pillar Two rules.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.