Maldives tax authority seeks US$20m from GMR
The Indian firm says it is not liable for any taxes due to an arbitration payout over the cancellation of its airport development deal.
04 Jun 2018, 9:00 AM
The Maldives tax authority is seeking US$20 million in unpaid taxes and fines from evicted Indian developer GMR.
The Maldives Inland Revenue Authority issued notices in late 2017 for US$14.4 million owed as business profit tax and US$2.8 million as withholding tax, as well as fines amounting to US$3.3 million, Indian media reported Sunday citing a regulatory filing.
“We have refuted the tax claims as [the GMR-led consortium] has no business operations in Maldives,” a company official was quoted as saying.
“Further the compensation awarded to us by the arbitration tribunal indemnified us against any tax liabilities that may be imposed on us in Maldives.”
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