Obama announces new Tax policy
US president Barack Obama has announced a new tax policy, aimed at curtailing loopholes in the current tax policy. The objective of this policy is to discourage US based tech firms to park overseas earnings in tax heavens, indefinitely, usually referred as deferral.
Though, Indian IT outsourcing bellwether Infosys feels it has nothing to do with IT outsourcing done in major US corporations.
Sources :
http://www.ciol.com/News/News-Reports/Say-no-to-Bangalore-Obama/5509119200/0/
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/05/04/BUF817D164.DTL
