Press Esc to close
Wednesday 01 April 2015
News updated at 2:51 AM IST
Weather
Max: 33.8°C
Min : 21.3°C
In Bengaluru
Sunny day

Mallya blasts India's tax policies

New Delhi, Jul 30, 2013, IANS:

Force India team principal Vijay Mallya feels the Indian government needs to resolve the tax issues faced by the Formula One teams.

F1 teams have been finding it tough to deal with India’s strict tax policies, including the customs duties levelled on them and the drivers on each visit.

Mallya said it would be a pity if tax issues jeopardise the Indian GP, which started in 2011.
“Yes there is a problem with India’s tax authorities, but India’s tax authorities tend to be a very difficult bunch,” Mallya was quoted as saying by ESPN on Tuesday.

“They even launched a humongous tax claim on Vodafone and Nokia and other multi-national companies. This sort of stand-off on taxes is nothing unusual.

“Their logic is that there are 19 races and one race is India, therefore 1/19th of all revenue generated in Formula One is subject to Indian tax. From a narrow-minded, Indian taxman’s point of thinking maybe that is justifiable, but we need to sit down with them and engage with them and say, ‘listen, this is not the only country that’s hosting an F1 race. There are other countries that have been hosting F1 races for decades and they don’t make the same demands. So how can you?’,” remarked the businessman.

The liquor baron said it is important that the government interact with Formula One Management on the matter.

“The Indian government on one side say they want India to be modern, vibrant country and want the global society and global industry and global sport to take notice of India and its potential. But the irrational behaviour by the taxman doesn’t support such a mission. So it’s a question of sitting around the table and hammering it out with them.”

Mallya felt the Indian Grand Prix is beneficial for India as well as the sport. “It’s a fantastic track, the drivers love it, the teams love it. India is a country with huge potential. 1.3 billion people and 50 percent of them are youngsters. There can’t be a better environment for Formula One’s future.”


Go to Top

Photo Gallery
Tourist being entertained by a Rajasthani artist...

Tourist being entertained by a Rajasthani artist...

Stranded trucks at the Jammu - Srinagar highway due to heavy rain in Jammu...

Stranded trucks at the Jammu - Srinagar highway due to heavy rain in Jammu...

A man walks on a snow-ladden field after a fresh spell of snowfall in Kashmir...

A man walks on a snow-ladden field after a fresh spell of snowfall in Kashmir...

Kashmiri man carries a pillow as he walks along the road at Ledhan village...

Kashmiri man carries a pillow as he walks along the road at Ledhan village...

Self-Defense Forces personnel prepare tp receive Indian Defense Minister Manohar Parrikar...

Self-Defense Forces personnel prepare tp receive Indian Defense Minister Manohar Parrikar...

Vice Admiral P Murugesan inspects guard of honour...

Vice Admiral P Murugesan inspects guard of honour...

A youth in the flood-hit Pampore area of Srinagar on Tuesday...

A youth in the flood-hit Pampore area of Srinagar on Tuesday...

A pair of parrot atop a tree in New Delhi...

A pair of parrot atop a tree in New Delhi...

Aircrafts of The Global Stars team of British Aerobatics Champions perform during rehearsals...

Aircrafts of The Global Stars team of British Aerobatics Champions perform during rehearsals...

Aircrafts of British Aerobatics Champions perform during rehearsals on the eve of the Gujarat Aero..

Aircrafts of British Aerobatics Champions perform during rehearsals on the eve of the Gujarat Aero..

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523