Colgate to Appeal $30 Million Transfer Pricing Bill in India

Colgate-Palmolive’s Indian unit plans to appeal an order to pay a $30 million transfer pricing bill in India, the company said in a filing.

The company reported Tuesday it had received a final order for assessment years 2021-22 to the tune of 2.54 billion rupees, and said it would appeal the order to the Income Tax Appellate Tribunal.

• The company had previously received a transfer pricing bill of 1.7 billion rupees for the 2021-22 assessment in October 2023, after India’s income tax authority disallowed certain international transactions.
• There were no other impacts to the financial operations or other ...