The Indian wings of the three tech titans—Apple, Google, and Amazon—are currently under the scrutiny of the Income Tax Department. The probe, initiated in 2021, focuses on possible tax evasion committed by these multinational corporations. The crux of the investigation lies in their transfer pricing practices, which have come under the department’s lens.
Transfer pricing—the practice of pricing transactions between related entities—has been a subject of controversy and scrutiny worldwide. Indian authorities have demanded detailed explanations from these tech behemoths, further intensifying the tax evasion probe. How the companies respond and the consequences of their actions will be closely watched by the global business community.
Source: bnn.network
