Indian pharmaceutical company Divi’s Laboratories Ltd. plans to fight new tax adjustments related to the company’s transfer pricing and corporate tax positions.
The company received a tax order asserting additions/disallowances of 5,705.1 million rupees ($60.8 million) for its fiscal year 2022-23, it said in a financial filing Monday.
- The order is related to transfer pricing adjustments on specified domestic transactions and corporate tax adjustments, the company said.
- It said a penalty proceeding would be initiated separately for alleged underreporting of income.
- Potential financial impacts could include the additional cost of the tax payments sought by the government, the ...
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