Bigger India

Payments Majors Visa, Mastercard And American Express May be Taxed on India Income

The Reserve Bank had ordered payments companies to locally store data on all transactions taking place within India from October 15. Visa, Mastercard and American Express said they had taken steps to comply with the regulation.

Global payments companies such as Visa, Mastercard and American Express may have to pay around 15% tax on their India income as they set up servers locally to comply with a central bank directive on data storage.


Read it at Economic Times

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