Rise of 59% tax collection from online advertising platforms

By VARINDIA - 2019-09-11

Rise of 59% tax collection from online advertising platforms

The tax man had collected Rs 939 cr in the year upto 31 March 2019 in compared to Rs 590 cr last year. The report shows on the jump in tax collections underlines that Indian entities paid digital platforms at least ₹15,650 crore for advertisement placements compared to ₹9,800 crore spent in the previous year.

 

Reports also suggests that, the actual spending by Indian entities may be higher than what the tax collection numbers show since advertisers need to deduct the tax at source and deposit it with the Indian government on behalf of the offshore digital company only if the advertiser has spent more than ₹1 lakh on advertising on overseas platforms in the previous year.

 

Introduced in 2016, the equalisation levy which is currently set at 6% of the amount paid, is a tax deducted at source on payments to offshore digital firms such as mobile phone apps, social media platforms and digital content streaming services with a customer base in India.




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