Tax on Merger - IT Radar

By Vijay Kumar

SOME cases relating to cross border merger and acquisition deals have been identified for further examination by the Revenue Department.

Some of these cases are:

++ Vodafone International Holding BV with Hutchison Telecommunication for acquiring Hutchison Essar Ltd.

++ Sanofi Pasteur Holding with Merieux Alliance and Groupe Industriel Marcel Dassault for acquiring Shantha Biotechnics Ltd.

++ New Cingular Wireless Services Inc with AT&T Mauritius for acquiring Idea Cellular Ltd.

++ SKR BPO Services Pvt Ltd. with Barclays (H&B) Mauritius Ltd. for acquiring Intelnet Global Services Pvt. Ltd.

++ Transfer of stake in GE Capital International services/Genpact India.

This information was given by the Minister of State for Finance, S.S. Palanimanickam in written reply to a question raised in Lok Sabha.