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US to Stop Outsourcing…
[26 Jan 2004]
Proposed new legislation in the US will ban the outsourcing of federal work to low–cost countries.
The US has lost thousands of highly paid technology jobs as a result of outsourcing and this has become a major issue in the run up to the presidential elections.
The bill has recently been passed by the Senate and is now awaiting George W. Bush’s signature at which point it will become law.
A number of companies have recently decided to stop further outsourcing to India in response to new tax rules that could lead to India taxing part of their worldwide earnings.
Many will face substantial tax liabilities if they undertake “core revenue–generating” activities in India.
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