India seeks to tax Netflix’s earnings from streaming companies within the nation: Report

India is in search of to tax Netflix Inc’s earnings earned from streaming companies within the nation, the Economic Times reported on Friday, citing folks acquainted with the matter.

In a draft order, the tax authorities attributed an earnings of about 550 million rupees to Netflix’s Indian everlasting institution (PE) within the evaluation 12 months 2021-22, the report added.

Tax officers reasoned that the U.S. agency had some staff and infrastructure from the mother or father entity on secondment in India to help its streaming companies, resulting in a PE and tax legal responsibility, the publication reported.

The transfer is the primary time India will tax abroad digital corporations offering digital commerce companies to customers, the folks instructed to ET.

Netflix didn’t reply to a Reuters’ request for remark.