Online Gaming in India: The Taxation Quandary
The report in particular focuses on some key issues that the industry and public sector need to address to bring to bear the Hon’ble Prime Minister Shri Narendra Modi’s comment that this is a sunrise industry and the vision to making India a global gaming hub and thus creating jobs. The online gaming sector in India is a rapidly growing industry that holds the promise of generating more than 1 million jobs by 2030, fostering innovation to ‘Create in India’ and contributing significantly to India’s goal of becoming a $1 trillion digital economy by 2025.
The report goes on to put forward a series of recommendations relating to the tax regime, regulatory support, initiatives such as cooperation with global counterparts and the possibility of special status benefits to give strength to the sector and ensure its sustainable growth in the long term. Read Now!