Techies can breathe easy | india | Hindustan Times
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Techies can breathe easy

Bangalore’s techies needn’t worry, President Barack Obama’s new tax proposals won’t impact Indian industry much.

india Updated: May 06, 2009 01:57 IST

Bangalore’s techies needn’t worry, President Barack Obama’s new tax proposals won’t impact Indian industry much. Obama had cited the example of India’s IT capital to explain his new proposals. The proposals mean multinationals will have to pay taxes on profits earned through overseas subsidiaries — even if the profits are not repatriated back to the US.