Yahoo may have to pay taxes on US$23b Alibaba spinoff
Also, the value of the stake has nearly halved since it was announced in January
Bengaluru
YAHOO Inc may have to pay taxes on the US$23 billion it hopes to get from the planned spinoff of its stake in Alibaba Group Holdings, threatening a key element of Chief Executive Officer Marissa Mayer's turnaround strategy.
Yahoo said on Tuesday the US Internal Revenue Service (IRS) had denied the company's request for a private letter ruling on whether the spinoff of its stake in the Chinese e-commerce giant would be considered tax free.
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