Clear, consistent taxes key to making India next global gaming hub: Experts ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 20
A clear and consistent approach to personal taxation is necessary for realizing India's vision of making AVGC (Animation, Visual Effects, Gaming and Comics) a high-growth sector, experts said. A high incidence of Tax Deducted at Source (TDS) to the tune of 30 per cent on gaming income is creating an incentive for offshore platforms that are not under any regulatory obligations and where no taxes need to be paid, to thrive in India, they said. Such evasion of taxes will be a huge loss to the government and will eventually even kill the domestic industry. An AVGC Promotion Task Force report, constituted by the government has proposed a national AVGC-Extended Reality Mission with a budget outla

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