Cairn retro tax case: India to appeal against arbitral award
Government believes that Cairn had set up a tax-abusive structure and did not pay taxes anywhere in the world on the gains that it made in India; it was well within India s sovereign powers to redress the situation
Dipak Mondal | March 10, 2021 | Updated 19:54 IST
India is in the process of filing an appeal against international arbitration award in the Cairn s retrospective tax case, sources close to the development said. However, the sources said that government is not averse to going for a settlement of the tax disputes within the existing legal framework.
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India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade but the tax department may not have given up yet
India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade but the tax department may not have given up yet
Sriram IyerDec 24, 2020, 11:12 IST The Indian government had a claim of over $2 billion at the start of this decade on Cairn India for unpaid taxes. 2020 ends with India losing the case.
This arbitration with Cairn was one of the defining episodes of the last decade in India that contributed significantly to shaping the economy, and to some extent, the politics as well.