Foster’s faces major transfer pricing tax bill
May 22, 2008
Rulings authority declares beer company must pay tax in India
In a major blow to Foster’s, the Australian beer company, an Indian rulings body has declared that the business must pay tax on the transfer of its Indian assets to the UK-owned SAB Miller. SAB Miller bought the rights to Foster’s India for $120 million in 2006. Both the tangible and intangible assets of the Australian beer company’s activities in India were acquired by the purchaser.
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