Colgate Palmolive India Faces $20 Million Transfer Pricing Bill

Colgate-Palmolive’s Indian unit is facing a transfer pricing bill of 1.7 billion rupees (about $20.4 million), after India’s income tax authority disallowed certain international transactions.

The transfer pricing order applies to the 2021-22 assessment year, Colgate-Palmolive (India) Ltd. said in an Indian securities filing Monday. The company didn’t provide any further details on the disallowed transactions.

• The company said it plans to take the matter before the country’s Dispute Resolution Panel after the draft assessment proceedings are completed.
• The transfer pricing order has no impact on financial, operating, or other activities of the company, Colgate Palmolive said.
• Transfer pricing refers ...