Walmart-Flipkart deal: AAR rejects Tiger Global plea on withholding tax

Topics Tiger Global | Flipkart | Walmart

The Authority for Advance Rulings (AAR) has rejected an application of three Mauritius-based companies, part of US-based hedge fund Tiger Global Management, to avail of nil withholding tax on capital gains arising out of the $16-billion Walmart-Flipkart deal, struck in May 2018.  Tiger Global was one of the prominent shareholders in e-commerce major Flipkart, founded by Sachin Bansal and Binny Bansal in 2007.  Mauritius-based Tiger Global International (II, III, IV) Holdings had sold their stake in Flipkart Singapore in 2018 to Luxembourg-based Fit Holdings for over Rs 14.....

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