E-Malt.com News article: India: High court orders SABMiller to pay RS. 183 crore in tax for its acquisition of Foster’s India in 2006

The income-tax department in India has asked SABMiller plc to pay RS. 183 crore in tax as part of its 540 crore acquisition of Foster’s India in 2006, Stocks and Shares reported on April, 11.

Though SABMiller plc had filed a petition that the department has no right to tax the company, the high court ordered the company to reply to the tax notice sent on 30 March 2011.

SABMiller plc said in a statement, “SABMiller can confirm that the notice of demand issued to SABMiller by the Director of Income Tax in India for unpaid tax and interest amounting to $39.5 million, is subject to an indemnity granted by Foster’s to SABMiller in connection with the acquisition of Foster’s Indian operations in 2006”.


13 April, 2011