Tax tiffs cast a cloud over foreign companies in India
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Mumbai
FOREIGN companies tempted by India's call to scale up manufacturing in Asia's third-largest economy need to consider one big potential headache: tax.
Nokia OYJ, Vodafone Group Plc, Cairn India Ltd and Cadbury chocolate maker Mondelez International Inc are among those embroiled in tax spats for total claims of about US$10 billion. A separate row flared this month with foreign portfolio investors over demands for US$95 million on past capital gains.
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