Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
TM
Fri, Jan 18, 2019 | Last Updated 4:53 am IST

Menu &Sections

Search

Walmart to deduct $1.5-2 billion as taxes before issuing cheques

Walmart to deduct $1.5-2 billion as taxes before issuing cheques
Walmart to deduct $1.5-2 billion as taxes before issuing cheques
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Accordingly as the Walmart-Flipkart deal received a nod from the Competition Commission of India, the government of India will gain a windfall tax collection of $2 billion or Rs 13,000 crore, and according to a report it may be recalled that much before the deal was officially announced by both the parties, the Indian Income Tax authorities wrote a soft communication to both of them raising the issue, explaining that there will be tax implications in the deal and that if either Walmart or Flipkart.



Meanwhile Walmart took its time to respond to this letter but it eventually did, confirming that it believes in complete compliance with local regulations in all the countries that it operates in and that it will abide by the Indian laws as well. Presently it is learnt that Walmart will now issue cheques to the different stake holders after retaining the tax component and issue the certificates to them after remitting it to the government.

Walmart to deduct $1.5-2 billion as taxes before issuing cheques

Moreover the sellers like SoftBank have also reconciled to receiving the net amount from Walmart after tax deductions. Furthermore it its case the liability could be in the region of $600 million and SoftBank alone would gain around 60% on the amounts it had invested in Flipkart.

Walmart to deduct $1.5-2 billion as taxes before issuing cheques

Walmart to deduct $1.5-2 billion as taxes before issuing cheques
5/ 5 - (1 votes)
Add To Favourite
More from author
Indian Railways linked its locomotives via ISRO satellites
Jallikattu opening day Festival begins with 500 Bulls in Tamilnadu
Will Indra Nooyi become World Bank President?
Yogi Adityanath record spending on festival!
Dhoni's unexpected anger on field!
Supreme Court hearing on Interim CBI chief!
Is YS Jagan is allying with KCR to form Andhra Drohula Front?
Indra Nooyi been courted as an administration ally by Ivanka Trump
How to Copy in Exams? Ad went viral in WhatsApp
Why Shashi Tharoor not allowed into Sree Padmanabhaswamy temple in Kerala with PM Modi?
2 Young Women decided to contest Telangana Panchayat Polls
2.0 s costumes, Robot Models exhibited at Chennai Island Grounds
Vishal confirms his wedding with Hyderabad based Businessman daughter
2 Women who unsuccessfully attempted to enter Sabarimala temple begins hunger strike
Flight operations at Bengaluru airport to face disruptions from February 14 to 24
Why YS Jagan Sister made a complaint with Hyderabad Police?
Mahesh Kathi comes with another controversy with Pawan Kalyan
Trump ordered American feast of burgers for visiting football team
Telugu comedian Brahmanandam undergone bypass surgery
AK Sikri declines joining commonwealth tribunal!
Kodanadu estate case investigation in peaks!
UP minister's tells people to burn politicians!
Supreme Court notice to central govt!
A Judge partially blocked a set of Trump administration rules
Follow Indian Traditions Leave Western Lifestyles: Venkaiah Naidu
Unresolved differences between Kanchi Seer and Mahatma Gandhi continues
Cockpit Voice recorder of Lion Air Jet found
Modi said BJP worker is driven by National Interest & not by any self-interest
KCR plans that will last generations
RBI tokenizes transactions made through Debit, Credit & Prepaid Cards in India
TNSTC announced it will operate an additional 14,263 services for Pongal
Modi calls DMK as the biggest enemy!
Terrorists killed in early morning encounter!
Dinakaran Vs Anbazhagan catches fire!
Tehelka editor reveals shocker!
Ivanka Trump, Nikki Haley for US candidates to World Bank President's Post
About the author

Bharath has been the knowledge focal point for the world, As Darvin evolution formula End is the Start ... Bharath again will be the Knowledge Focal Point to the whole world. Want to hold the lamp and shine light on the path of greatness for our country Bharath.