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Strategies & Market Trends : India Stocks
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To: greenehugh who wrote (399)3/12/2004 12:10:42 AM
From: Sam Citron   of 2517
 
India has slapped a 40% tax on software developers

Now that Julius has pointed out the recent decision by California's Franchise Tax Board to try to tax what seem to be all profit by Infosys on either its CA or US operations (not sure which), I am doubly confused by your post suggesting an Indian, not a CA, tax. India would be seeking to actively encourage such an important source of foreign exchange and Indian jobs, not discourage it with a selective 40% tax.

I think you may be mistakenly referring to the CA tax decision Julius has just cited, which is likely to be appealed by Infosys. What is certain, however, is that the result of any overreaching by FTB will be the loss of even more jobs in CA as INFY probably shifts jobs and HQ to Canada.

This protectionism always ends up with people shooting themselves in the foot.

JMO,
Sam
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