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Taxation of Digital Economy

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Taxation of Digital Economy

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Taxation of Digital Economy addresses this dilemma in an authoritative manner. The author captures the entire canvas of the digital economy and discusses in great detail its functioning and various aspects encompassing e-commerce, digital payments, virtual showrooms, virtual currencies, AI, big data, and data analytics. The author brings out tax challenges by providing an in-depth analysis of how the revenue generation activity takes place across the jurisdictions, the associated issue of establishing a PE and the relevance of a virtual and digital PE in the context of taxing rights. The concepts and implications of SEP, OIDAR services, export of services, reverse charge mechanism, and Equalisation Levy, in the context of the digital economy, have been described with insightful Indian and International case law. The chapters on Digital Taxes – International Experience, Unified Approach, and Possible Solutions throw light on the evolving course of action in this space.

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Digital Economy from being a mere extension of the brick and mortar space, has evolved into a full-fledged, vibrant economic space where goods and services are transacted digitally without the need for physical presence. Identifying the inadequacy of existing framework in addressing the challenges in taxing the digital economy, the OECD has highlighted three key characteristics of the digital economy, namely, scale without mass, intangibles and the role of data and user participation.

Taxation of Digital Economy addresses this dilemma in an authoritative manner. The author captures the entire canvas of the digital economy and discusses in great detail its functioning and various aspects encompassing e-commerce, digital payments, virtual showrooms, virtual currencies, AI, big data, and data analytics. The author brings out tax challenges by providing an in-depth analysis of how the revenue generation activity takes place across the jurisdictions, the associated issue of establishing a PE and the relevance of a virtual and digital PE in the context of taxing rights. The concepts and implications of SEP, OIDAR services, export of services, reverse charge mechanism, and Equalisation Levy, in the context of the digital economy, have been described with insightful Indian and International case law. The chapters on Digital Taxes – International Experience, Unified Approach, and Possible Solutions throw light on the evolving course of action in this space.

The book will be of value to lawyers, judges, chartered accountants, tax professionals, technocrats, policy-makers, students & members of the public.

Digital is reshaping the way we live and work. It’s no surprise then that taxation of goods and services that touch every aspect of our lives is being reimagined in the digital context. The what, when, where, how and by whom have all made digital taxation quite complex and perplexing. This book captures the many facets and nuances of digital taxation across a broad range of areas with a number of illustrations and case examples. The simplicity with which complex issues have been elucidated—with no legal or accounting gobbledygook—makes the book both rewarding and unputdownable!

~ Ramkumar Ramamoorthy, President MCCI and Chairman & MD, Cognizant India

 

About The Author

K Vaitheeswaran has 30 years of experience in dispute advisory and litigation, consulting clients across the country in all practice areas. He is considered a specialist in tax and legal matters. He is a prolific writer and has authored various books on taxation and has contributed to innumerable articles, both in print and digital media. He regularly addresses seminars and conferences on law and taxation across the country and abroad. He has now forayed into the fields of Data Protection, Technology Law and Artificial Intelligence.

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