Win For Apple? Govt Moves To Extend Tax Sops For Contract Manufacturers Till 2041

by · Inc42

SUMMARY

  • The tax exemptions will be applicable to the manufacturers of mobile phones, laptops, personal computers, tablets, servers, wearable devices, among others
  • The Bill allays Apple’s fears of Centre treating ownership of its machinery, which it provides to vendors, as so-called “business connection”, exposing its iPhone profits to taxes
  • The Bill also proposes tax exemptions to the foreign companies’ income, specifically arising from storing and providing parts ⁠to contract manufacturers till 2041