U.S. LIKELY TO IMPOSE TARIFFS ON ITALY, INDIA FOR EARNING TAXES FROM INTERNET FIRMS LIKE FACEBOOK

Highlights

• Sources claim that the U.S. is planning to issue the results of probes into India, Italy and Austria's decisions to tax revenue of Internet companies like Google and Facebook

• Citing Section 301 of the U.S. Trade Act of 1974, the U.S. Trade Representative had started investigations in June into the moves of at least 10 countries

• Along with India, Italy and Austria, other countrie....