Equalisation levy will hurt Indian tech startups: IAMAI

Considering that the incidence of 6 per cent levy will be passed on to the advertisers by the ad platforms, the total burden to SMEs and tech startups on account of equalisation levy would be an additional burden of Rs 429 crore, a massive hike of nearly 50 per cent, it added. The proposed 6 per cent levy on online advertisement revenue of foreign companies will “severely raise the cost of doing business” for Indian tech startups, industry body IAMAI said today.
“Tech startups