PnG Hygiene and Health Care agrees to pay Rs 36 crore to tax authorities
Mumbai: Procter & Gamble Hygiene and Health Care Limited has arrived at an advanced pricing agreement with the tax authorities determining appropriate transfer pricing methodology for certain identified transactions with Company’s affiliate(s) for the years viz., F.Y. 2010-11 to F.Y. 2018-19."As a consequence of this agreement; an additional tax liability, approximately of about Rs....
Mumbai: Procter & Gamble Hygiene and Health Care Limited has arrived at an advanced pricing agreement with the tax authorities determining appropriate transfer pricing methodology for certain identified transactions with Company’s affiliate(s) for the years viz., F.Y. 2010-11 to F.Y. 2018-19.
"As a consequence of this agreement; an additional tax liability, approximately of about Rs. 36 crores (including interest) is payable," the Company stated in a BSE filing.
Also, there will be a reduction in contingent liabilities of approximately Rs. 87 crores, subject to withdrawal of relevant tax litigations by the respective parties.
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