Press Esc to close
Sunday 30 August 2015
News updated at 1:22 PM IST
Weather
Max: 27.6°C
Min : 19.4°C
In Bengaluru
Sunny day
Breaking News

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
Bollywood actor Arjun Rampal showcases a creation by designer Bugatti during Lakme Fashion...

Bollywood actor Arjun Rampal showcases a creation by designer Bugatti during Lakme Fashion...

President Pranab Mukherjee honours gymnast Dipa Karmakar with Arjuna Award 2015...

President Pranab Mukherjee honours gymnast Dipa Karmakar with Arjuna Award 2015...

Malayali women light lamps at Lord Ayyappa Temple on the occasion of Onam festival...

Malayali women light lamps at Lord Ayyappa Temple on the occasion of Onam festival...

Mahants and sadhus from various Akharas arrive for the first Royal Bath of the Kumbh Mela...

Mahants and sadhus from various Akharas arrive for the first Royal Bath of the Kumbh Mela...

Indian women tie Rakhis onto the wrists of Indian BSF soldiers during the Raksha Bandhan...

Indian women tie Rakhis onto the wrists of Indian BSF soldiers during the Raksha Bandhan...

Women and Children from various segments of society tying ‘Rakhi’ to Prime Minister...

Women and Children from various segments of society tying ‘Rakhi’ to Prime Minister...

Muslim women tie rakhis to police officials on the occasion of Raksha Bandhan...

Muslim women tie rakhis to police officials on the occasion of Raksha Bandhan...

President Pranab Mukherjee honours tennis player Sania Mirza with Rajiv Gandhi Khel Ratna...

President Pranab Mukherjee honours tennis player Sania Mirza with Rajiv Gandhi Khel Ratna...

School girls tying Rakhi on the wrists of BSF personnel during celebrations of Raksha Bandhan...

School girls tying Rakhi on the wrists of BSF personnel during celebrations of Raksha Bandhan...

Ex-servicemen celebrate Raksha Bandhan even as they continue their...

Ex-servicemen celebrate Raksha Bandhan even as they continue their...

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