India demands $12 bln in tax from online gaming firms

By Stermy 1 Min Read

Indian tax authorities have reportedly issued notices to online gaming companies, claiming they owe approximately 1 trillion rupees, which is equivalent to $12.03 billion, in unpaid taxes.

This move comes after India implemented a 28% tax on the total funds deposited for playing online games back in August.

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The tax has had consequences, with some gaming firms like Mobile Premier League having to lay off employees.

The unnamed government source revealed, “The amount for which show cause notices have been issued to online gaming companies is around 1 trillion rupees.”

However, there has been no immediate response from the finance ministry regarding this matter. (1 Indian rupee is approximately equal to 0.01203 US dollars or $1=83.1180 Rupees)

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By Stermy
Stermy is one Crazy fan of the word "Internet". Always online to stay informed and keep others updated. #townflex