Tiger Global and Other Investors Urge Indian Government to Rethink Online Gaming Tax, Citing Investment Risk

2023-07-21 04:34 PM by Eugen Boglaru

Tiger Global, Peak XV, and Steadview Capital, along with 27 other investors, have collectively appealed to Indian Prime Minister Narendra Modi to reconsider a 28 percent gaming tax. Their contention is that this tax would have a negative impact on potential investments totaling $4 billion (approximately Rs. 32,811 crore). The investors, in a letter obtained …

Online Gaming Companies Directed by Government to Withhold Tax at Source for Player Winnings Claims

2023-06-17 01:04 AM by Eugen Boglaru

According to guidelines issued by the Central Board of Direct Taxes, online gaming companies will now have the responsibility of deducting taxes at the source if players claim their net winnings, including bonuses and incentives. However, the agency clarified that bonuses and incentives will not be taxed if they are not claimed or withdrawn. To …