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India opposes U.S. tax on foreign procurement
Friday, 31 December 2010, 07:04 IST
New Delhi: Government today said the recent U.S. legislation imposing a two per cent tax on foreign procurement and extending the present visa fee till 2015 will create a bias against the Indian IT sector.
The U.S. government has recently passed a bill - James Zadroga 9/11 Health and Compensation Act - that will impose two per cent tax on the U.S. government procurement from foreign companies and also extend the present visa fee on certain categories by one more year from 2014 to 2015.
Terming the new law as a "retrograde" step, Minister of State for IT and Communication Sachin Pilot said "such legislations will only seek to undermine the contributions of the Indian IT and tech companies to the U.S.
Source: PTI
Source: PTI