While 136 nations have agreed to a global agreement under the platform of OECD to ensure large multinational enterprises (MNEs) with no permanent establishments in the countries in which they operate pay tax in those jurisdictions, India is treading cautiously and wants to see the final outcome of the deal to withdraw the equalisation levy, one of the conditions of the agreement.

       There is little consensus among experts on whether or not the deal will bring in more revenues to India than the equalisation levy. For instance, Amit Maheshwari, tax partner at AKM Global, a tax and ...