Outsourcing tax could ‘ reshape ’ Indian IT firms, GCCs
Days after US Republican Senator Bernie Moreno introduced Halting International Relocation of Employment (HIRE) Act, IT industry experts say that proposed Bill will alter the cost structure for the US companies and likely reshape Indian IT firms and Global Capability Centres (GCCs).
The Bill aims to impose a 25% tax on US companies that outsource jobs in tech and other sectors. Jaspreet Singh, partner and chief revenue officer, Grant Thornton Bharat, said that the proposed HIRE Act,
