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Synopsis
Although TikTok had a large subscriber base in India, pegged at 200 million, the value of the business is much below the threshold. The bulk of TikTok’s value is derived from its operations in the US. TikTok was recently valued at $30-50 billion, according to reports.
New Delhi: Any acquisition by Microsoft of TikTok that includes the video-streaming app’s India business is unlikely to incur tax locally, said officials and experts. Under the controversial 2012 retrospective tax amendment that ensnared Vodafone, indirect transfers of Indian assets are taxable even if deals are executed overseas. However, this is triggered only when the value of the Indian asset is more than half that of the total
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