Shell asks for PM's help in tax dispute with India [Herald, The (Scotland)]
(Herald, The (Scotland) Via Acquire Media NewsEdge) OIL company Royal Dutch Shell has asked the British government to raise the subject of a tax dispute with India during Prime Minister David Cameron's visit there next week, according to a source familiar with the request.
The dispute blew up earlier this month when tax authorities revalued by $2.7 billion a 2009 transaction by Shell with a wholly- owned subsidiary, and claimed a tax payment was due.
It comes as India seeks to balance its need to shore up its finances by raising tax receipts with its desire to encourage foreign investment.
The Anglo-Dutch oil group's run-in with tax officials follows a long-running $2 billion Indian tax claim on British mobile telecoms group Vodafone which has dented foreign investor confidence in the country.
Finnish phone maker Nokia earlier this week became the latest international company to protest against an Indian tax investigation.
Shell has responded vigorously to the tax claim calling it a "tax on foreign direct investment".
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