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Fosters faces major transfer pricing tax bill
May, 23rd 2008
In a major blow to Fosters, the Australian beer company, an Indian rulings body has declared that the business must pay tax on the transfer of its Indian assets to the UK-owned SAB Miller. SAB Miller bought the rights to Fosters India for $120 million in 2006. Both the tangible and intangible assets of the Australian beer companys activities in India were acquired by the purchaser.
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