How many dollars does Shah Rukh Khan make? The Govt wants to know
Advertisement
The Indian Government now wants to know how much dollars Indians are making abroad. It wants to know how much money Bollywood celebrities such as Shah Rukh Khan, Kangana Ranaut, Indian companies selling animation, gaming and visual effect services to foreign companies make.
The plan comes in the backdrop of India’s increasing share in global services trade. The share has doubled from 5% in last 10 years.
Apart from film industry, the Government wants to collect data from trade in services from logistics, telecom and professional services, including accounting, law, medical tourism and market research.
ET quoted officials saying the government also plans to strictly implement, penalty provision of the Collection of Statistics Act for firms that fail to reportforeign exchange earnings.
The Centre will hold surveys of companies that earn foreign exchange from services of various categories.
Officials told ET they do not expect firms to worry about government keeping their data confidential and instead they should worry about giving out data on full foreign exchange earnings because of tax implications.
At present, the Reserve Bank of India estimates foreign exchange earnings by data fromNasscom , and the tourism ministry, and from foreign exchange transactions reported by banks to the RBI.
Advertisement
The plan comes in the backdrop of India’s increasing share in global services trade. The share has doubled from 5% in last 10 years.
Apart from film industry, the Government wants to collect data from trade in services from logistics, telecom and professional services, including accounting, law, medical tourism and market research.
ET quoted officials saying the government also plans to strictly implement, penalty provision of the Collection of Statistics Act for firms that fail to report
The Centre will hold surveys of companies that earn foreign exchange from services of various categories.
Advertisement
At present, the Reserve Bank of India estimates foreign exchange earnings by data from
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- IndiGo places order for 30 wide-body A350-900 planes