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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.

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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.”

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“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.

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“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

Next Story

Chinese Shout ‘Boycott Apple’ as US Goes After Huawei

To avoid the ban, Apple released a small update to iOS, saying that iOS version 12.1.2 contains software changes exclusive to China

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Apple, Campus, China
A customer is entering the Apple store in Fairfax, Virginia. VOA

As the Washington-Beijing trade war intensifies along with fresh restrictions on Chinese telecom giant Huawei in the US, there has been a significant rise in “Boycott Apple” movement in China.

According to BuzzFeed News, there has been a flurry of anti-Apple and anti-Trump messages on Weibo, China’s version of Twitter.

“I feel guilty watching the trade war. Once I have money I will change my smartphone (iPhone),” one user posted on Weibo.

“I think Huawei’s branding is amazing, it chops an apple into eight pieces,” read another post.

China has urged the US to stop “harassing overseas companies” and slammed US President Donald Trump’s decision to sign a national emergency order that prohibits American firms from using foreign-made equipment, citing espionage fears.

The US move, which effectively takes aim at Chinese telecom giant Huawei, comes as the two economic superpowers are locked in a bitter unending trade war.

Chinese telecom giant Huawei has said that it is still open to addressing US security concerns.

huawei
FILE – A woman stands at the booth of Huawei featuring 5G technology at the PT Expo in Beijing, China, Sept. 28, 2018. VOA

“The functions in Huawei are comparable to Apple iPhones or even better. We have such a good smartphone alternative, why are we still using Apple?” said one user on Weibo.

This isn’t the first time that the “Boycott Apple” movement has gained traction in China.

Chinese companies in December last year rallied behind the tech giant, offering hefty discounts to employees to buy Huawei devices and shun iPhones.

According to Nikkei Asian Review, the move came after the detention of Huawei’s Chief Financial Officer Meng Wanzhou in Canada at the request of American prosecutors.

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Over 20 Chinese companies also took to social media to announce that they will increase purchases of other Huawei products.

A Chinese court in December banned the sale and import of most iPhone models after granting Qualcomm an injunction against Apple.

To avoid the ban, Apple released a small update to iOS, saying that iOS version 12.1.2 contains software changes exclusive to China. (IANS)