IT
India’s IT sector nervous as US proposes outsourcing tax
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India’s massive IT sector faces a lengthy period of uncertainty with customers delaying or re-negotiating contracts while the U.S. debates a proposed 25% tax on American firms using foreign outsourcing services, analysts and lawyers said.
The sector is likely to be on the receiving end of a bill which, though unlikely to pass in its nascent form, will initiate a gradual shift in how big-name firms in the world’s largest outsourcing market buy IT services, they said.
Still, with U.S. firms having to pay the tax, those heavily reliant on overseas IT…
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