Following the increment in taxes for IT products and services, the Silicon Valley corporates has joined hands together these big guns have issued an all out warning to the US lawmakers. As per them they all will be moving out of the country to some other countries, if the tax is not lowered. They also told about some other countries like Malaysia which offer a tax holiday to lure the businesses which is more or less like a tax free business policy.
In total, 18 CEOs and other executives met last day with US legislators to talk over various issues related to various IT ventures in the country. As for now, the US IT industry as a whole employs 182,200 people in the US at an average salary of almost $100,000 a year, and it spends $20 billion a year on research. It exports more than any other US industry, and its products are at the heart of dozens of other items as varied as computers, cell phones and automobiles.
The IT industry has been playing a major role in US economy and it is most likely that US Government wont prefer to go against Silicon Valley giants.
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