World
India Postpones Tax Collection for International Credit Card Spending
India has announced it will put on hold its decision to tax international credit card spending at 20 per cent from July 1.
It means spending on hotel rooms, entertainment, purchase of consumer goods and other items by Indian tourists in their favourite overseas destinations like Dubai and Abu Dhabi will remain steady for the rest of this year.
This follows the Indian Finance Ministry’s decision to postpone the introduction of a 20 per cent tax on annual overseas spending by Indians.
The tax was to have been collected from July 1, which is the peak of India’s outbound tourism season.
