India’s proposed 28% GST on online gaming among the highest in the world

Moving on from taxes and revenues, the report also said that India’s online gamers are expected to grow at a CAGR of 5 percent and reach 53.8 crore by FY28. (Representational image via Unsplash)

Most countries tax online gaming below 20 percent; the proposed rate may push players to the illegal market, says a report. The UK, for instance, follows a rake fee based model taxed at 21 percent. Pennsylvania, US, also follows the same model and the taxes are 14 percent on online poker and 15 percent on fantasy games. Belgium, Denmark, Sweden and Germany also follow the rake fee based model and are taxed between 11 percent and 19 percent. Countries like South Africa, Singapore and Australia that levy taxes on deposits have tax rates between 7 percent and 15 percent. All less than India.

Meta’s plan with Threads might be bigger than just being another Twitter

Threads, the 20-day-old app, marks an early entry by Meta into the social media arena. However, it currently lacks certain crucial features expected by users, such as a desktop version and post-scheduling for professionals. Recent updates have addressed some limitations, but room for improvement remains. (Image source: Moneycontrol)

Currently, TikTok is that place, minting trends with its entertaining short videos and exerting huge influence over popular music culture. Reels, Meta Platforms’ (META.O) answer to viral short-form video app TikTok, elicited eye rolls when it launched in 2020 and was regarded as yet another example of Meta copying a popular rival.

Omnicom Media Group elevates Deep Singh as national head of strategy

Deep Singh has over 17 years of experience in the fields of advertising, media, brand, process consulting and teaching. Before joining PHD, he was leading the strategy product at Mindshare for its North and East regions.

Deep Singh’s responsibility will include addressing the strategic requirements of OMD and PHD India’s key clients, followed by leveraging the agency’s future-facing offerings to help clients unlock new potential and build a strong, strategic foothold for Omnicom Media Group in the market.

Biz Moves: Havas Media, BBH India, Supari Studios, Team Pumpkin, and W+K India

Havas Media Network has been chosen as the media agency-on-record for jewellery brand Joyalukkas where the agency will take charge of driving the media duties for Joyalukkas across all offline channels, encompassing television, print, radio, cinema and out-of-home (OOH). (Representative Image: Philippe Gras via Unsplash)

Keep up with all the key business wins and the account movements.