Sunday July 22, 2018
Home India US-based iPho...

US-based iPhone maker Apple to meet Indian officials to seek tax concessions

iPhone maker Apple will on Wednesday meet Commerce and other ministries' officials to seek tax concessions for setting up stores in India.

0
//
73
Apple Pixaby
Republish
Reprint

New Delhi, Jan 26, 2017: The US-based iPhone maker Apple will on Wednesday meet Commerce and other ministries’ officials to seek tax concessions for setting up stores in India.

Apple officials on Tuesday met Commerce Minister Nirmala Sitharaman to discuss “the issues”.

“They (Apple) are putting their demands and the government has to consider. It has to take 360 degree view, as others (foreign companies) are already here. They want some tax concessions and all,” sources in the Commerce Ministry told IANS.

“In this case maybe they are asking for more and let’s see how it goes.”

NewsGram brings to you top news around the world today.

“They (Apple) met the minister (Sitharaman) yesterday (Tuesday). Both the parties discussed the issues. Today (Wednesday) they are meeting all the other ministry officials. Nothing is being talked about. They have a list of demands that will be shared,” the source added.

However, the ministry officials believe the process is rudimentary as of now as there are still several stages to go and a consensus needs to be reached from all ministries involved.

“It is very rudimentary as of now. There are several stages to go. They will meet the officials, make a presentation, tell what they want. The government has to decide what has to be given what is not to be given. These are simple meetings going on,” sources told IANS.

Look for latest news from India in NewsGram.

“It is not DIPP (Department of Industrial Policy and Promotion) alone but several ministries in it. It all depends on how things move. There needs to be a consensus from everyone,” the source said.

Apple had last year applied for tax concessions and relaxation in domestic sourcing norm which were rejected by the Finance Ministry.

But with the tweaking of the Foreign Direct Investment (FDI) rules, the US company is hoping to be lucky this time.

Last year Apple’s demands were rejected because of the rules but since then there has been a change in the policy, the source said.

–IANS

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

Apple’s Head Of Search and Head of Siri’s Advanced Development quits Amidst Siri Reshuffle

According to a report in The Information on Thursday, Apple has confirmed both the departures

0
Apple's
According to a report in The Information on Thursday, Apple has confirmed both the departures. Pixabay

Apple’s Head of Search Vipul Ved Prakash and Tom Gruber, Head of Siri’s Advanced Development Group, have quit the company which is currently reshuffling its Siri team.

According to a report in The Information on Thursday, Apple has confirmed both the departures.

One of the original Siri co-founders, Gruber “will be pursuing personal interests in photography and ocean conservation”.

Prakash joined Apple in 2013 after Apple acquired the search engine and analytics firm Topsy where he served as a CEO.

“The deal was valued at upwards of $224 million. Apple shut down Topsy two years after its acquisition,” reports 9to5mac.com.

Revealing its future plans, Apple last week formally announced to make ex-Google executive John Giannandrea its Chief of Machine Learning (ML) and Artificial Intelligence (AI) Strategy.

Apple's
Apple has invested in Siri and HomeKit to compete with Google Home and Alexa-based smart home systems. Flickr

Reporting to CEO Tim Cook, Giannandrea who joined Apple in April will be in charge of Apple’s ML division, Siri and the Core ML team.

Giannandrea will look after further development of Core ML and Siri technologies.

According to media reports, Apple lags behind from Google and Amazon in key AI areas like Natural Language Processing (NLP) and computer vision needed to power voice assistant features in Siri.

Apple has invested in Siri and HomeKit to compete with Google Home and Alexa-based smart home systems.

Also Read-Apple Gets a New AI Chief to Oversee Siri, Machine Learning

In 2017, Apple added an AI chip called Neural Engine to the A11 Bionic for the iPhone 8, iPhone 8 Plus and iPhone X to work with the Image Signal Processor (ISP). (IANS)