This content is from: India

Tax demand against Cairn contradicts India’s 2015 Budget aim to create investor-friendly environment

The Income-Tax Department (I-T Department) has issued Cairn Energy (Cairn) with a Rs. 10,247 ($1.6 billion) tax demand over its transfer of assets to Cairn India. The tax demand draws similarities with Vodafone and suggests India still has work to do in proving itself as an investor-friendly nation.

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