Coimbatore Taxi News
US to slash tax breaks to firms that outsource jobs
Washington, Jan 28 (PTI) In bad news for India's IT-BPO sector, US President Barack Obama today said he will slash tax breaks to American firms that move jobs abroad.
"To encourage... businesses to stay within our borders, it is time to finally slash the tax breaks for companies that ship our jobs overseas, and give those tax breaks to companies that create jobs right here in the United States of America," he said in his first State of Union address.
A report by IT consultancy firm Forrester Research estimates that 3.3 million American jobs will be lost to outsourcing in 15 years ending 2015. Already, half of the Indian IT-BPO industry's USD 71.7 billion revenue comes from the US.
According to Gartner, Indian BPO vendors will command 10 per cent of the total global market share by this year end.
Coimbatore Taxi News
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