India to Abolish 6% Digital Ad Tax

• The Indian government plans to abolish the 6% equalisation levy on online advertisements from April 2025, benefiting advertisers on platforms like Google and Meta.
• This move is part of amendments proposed by Finance Minister Nirmala Sitharaman and aims to improve bilateral ties with the US.
• The decision follows the removal of a 2% levy on e-commerce last year, which had drawn criticism from the US.
• Experts believe this is a progressive policy move to simplify tax laws and align with international tax standards.
• Additional amendments include changes to offshore fund investments and clarifications on tax assessments under search and seizure provisions.

Source: The Times Of India, Mint, The Economic Times