India has proposed extending tax exemptions until 2041 for foreign companies that supply machinery to their contract manufacturers, handing a win to Apple as it expands iPhone production in the country.
Apple lobbying and the exemption
Introduced in February, the exemption had previously run only until 2031. Apple had long since lobbied against being taxed on the high-end iPhone machinery it owns in India. The draft bill still has to be passed by both houses of parliament.
