Reported 16 days ago
Apple is lobbying the Indian government to amend its income tax law, which currently penalizes the company for owning high-end iPhone manufacturing equipment used by its contract manufacturers. This tax issue is deemed a barrier to Apple's expansion in India, where the company aims to grow its market share, which has doubled to 8% since 2022. The discussions with Indian officials highlight the delicate balance between encouraging foreign investments and preserving sovereign tax rights, as Apple continues to face potential billions in taxes unless the law is modified.
Source: YAHOO