Thursday 17 April 2014
News updated at 12:57 AM IST
Weather
Max: 34°C
Min : 22.7°C
In Bangalore
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
A visitor walks next to a sand sculpture on elections made by Indian sand artist Sudarshan...

A visitor walks next to a sand sculpture on elections made by Indian sand artist Sudarshan...

Members of the election staff carry electronic voting machines (EVM) through a tea garden...

Members of the election staff carry electronic voting machines (EVM) through a tea garden...

A man rests on a boat on the banks of the river Yamuna in the old quarters of Delhi...

A man rests on a boat on the banks of the river Yamuna in the old quarters of Delhi...

Rescue work is carried out after Dimapur-Kamakhya BG Express derailed near Jagiroad Station...

Rescue work is carried out after Dimapur-Kamakhya BG Express derailed near Jagiroad Station...

Pranab Mukherjee during a meeting with Indian Postal Service Probationers...

Pranab Mukherjee during a meeting with Indian Postal Service Probationers...

Policemen conduct checking on the eve of Lok Sabha elections in Patna...

Policemen conduct checking on the eve of Lok Sabha elections in Patna...

A labourer sits at a window under a railway bridge in the old quarters of Delhi...

A labourer sits at a window under a railway bridge in the old quarters of Delhi...

Bollywood lyricist Gulzar during the inauguration of the painting exhibition Epic...

Bollywood lyricist Gulzar during the inauguration of the painting exhibition Epic...

Members of the election staff carrying electronic voting machines (EVM) cross a water channel...

Members of the election staff carrying electronic voting machines (EVM) cross a water channel...

A woman pastes cow dung cakes on a wall for drying in the northern Indian city of Allahabad...

A woman pastes cow dung cakes on a wall for drying in the northern Indian city of Allahabad...

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