The results of a panel of finance ministers from India’s states charged with crafting a recommended report on taxing the thriving online gaming business have yet to be released.
According to a senior administration official, the study will be essential in making a final decision on how the tax would be collected. However, the panel is unlikely to achieve an agreement this month, the official said.
For weeks, the panel has been debating how online gambling businesses should be taxed, and whether the federal tax should be charged simply on profits or on the whole amount received from players.
As the sector grows in India, so does the push to develop a new tax structure for online gaming. Because of the rising popularity of real-money online gambling, international investors like as Tiger Global and Sequoia Capital have invested in domestic gaming businesses such as Dream11 and Mobile Premier League, who are best known for their fantasy cricket games.
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