CONTEXT: Recently Delhi High Court held that Mastercard had permanent establishments (place of business) in India, paying their due tax on business income; hence not expected to pay Equalisation Levy (EL).
What is Equalisation Levy (EL)?
Issues with the EL:
Measures for Global Consensus
Conclusion: A global consensus — rather than a unilateral approach, which in the case of India, has left stakeholders grappling for answers — is the best way forward.