Holcim sees no capital gains tax on assets sale
The New Indian Express Chennai|May 17, 2022
Holcim to acquire 63.11% stake in Ambuja, which owns 50.05% in ACC
RAM SAHGAL
Holcim sees no capital gains tax on assets sale

THE 6.4 bn Swiss francs (nearly ₹50,200 cr) that Holcim will receive from Adani Group for its stakes in Ambuja Cement and ACC is unlikely to attract any capital gains tax on the seller, an analyst who attended an investor call on Monday cited Holcim CEO Jan Jenisch as having said.

Adani's offshore vehicle Endeavour Trade and Investment Ltd will reportedly buy the stakes from Holcim's offshore holding company. In the case of the Vodafone retrospective tax matter, the SC ruled that Indian tax authorities don't have the jurisdiction to tax an offshore transaction between two non-resident entities wherein controlling interest in a resident company is acquired by the non-resident company.

This story is from the May 17, 2022 edition of The New Indian Express Chennai.

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This story is from the May 17, 2022 edition of The New Indian Express Chennai.

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