India has proposed extending tax breaks until 2041 for foreign companies that supply machinery to their contract manufacturers, handing a win to Apple as it expands iPhone production in the country, Reuters reports.
Introduced in February, the exemption previously ran only until 2031, and Apple had long since lobbied against being taxed on the high-end iPhone machinery it owns in India. The draft bill still has to be passed by both houses of parliament.
This article, “India Moves to Extend Tax Break Apple Lobbied For” first appeared on MacRumors.com
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