U.S. and India Extend Compromise on India's Equalization Levy

The U.S. Department of the Treasury has announced an extension of the agreement with India regarding a transition from India's existing 2% Equalization Levy on e-commerce supplies to the new multilateral solution agreed to under Pillar 1 of the OECD's two-pillar solution for reforms to the international tax framework. The agreement is extended until 30 June 2024. The two sides previously agreed that the same terms agreed by the U.S. with Austria, France, Italy, Spain, and the UK will apply w…