News Details
India to tax Formula 1 for past three races
India’s Supreme Court has ruled that Formula 1 World Championship Limited (FOWC) has a permanent establishment in India and as such income accruing from it should be taxable. In a long-standing case, India’s apex court has upheld Delhi High Court’s decision to tax three Formula 1 races held in the country between 2011-13. It stated that the Buddh International Circuit, owned by Jaypee Group, served as a ‘permanent establishment’ for conducting business by Formula 1. A permanent establishment in India is defined as any fixed place of business, wholly or partially carried out by a foreign enterprise operating in India. Following the hearing, an assessing officer will decide the...
Full Story »
Full Story »
8y ago from Motorsport.com
0
You May Also Be Interested In...
T-Wings, Fins and Halo ditched by Strategy Group
A constructive meeting of the F1 Strategy Group and F1 Commission took...
8y ago from GrandPrix247.com
Force India preview the Russian Grand Prix
Force India preview the Russian Grand Prix weekend, Round 4 of the 2017...
8y ago from GrandPrix247.com
Elsewhere On The Network
Popular On MGPToday.com
Valentino Rossi’s VR46 team launches 2026 MotoGP...
No description available...
1h ago from Motorsport.com
VR46 Ducati launches 2026 MotoGP livery
Pertamina Enduro VR46 Ducati presented its newest livery for the 2026...
1h ago from MotorsportWeek.c...
Jack Miller: Yamaha are ‘busting their arses' on...
Pramac rider Jack Miller has seen first-hand the efforts of Yamaha on its...
22h ago from MotorsportWeek.c...
Pramac becomes first MotoGP team to reveal 2026 livery
No description available...
18h ago from Motorsport.com
Popular On IndyCarToday.com
Escotto confirmed by Juncos Hollinger Racing for 2026...
No description available...
19h ago from Motorsport.com
Ranking IndyCar’s rising stars to watch in 2026
No description available...
3d ago from Motorsport.com
Alex Palou delivers takedown of McLaren F1 drivers...
IndyCar champion Alex Palou has delivered a takedown of both McLaren...
5d ago from MotorsportWeek.c...
Will Power turns first IndyCar laps with Andretti at...
IndyCar veteran Will Power completed his first test laps with his new...
5d ago from MotorsportWeek.c...
Popular On TotalWRC.com
Dakar 2026, Stage 10: Mathieu Serradori wins as Nasser...
No description available...
1h ago from Motorsport.com
Dakar 2026, Stage 9: Ford takes 1-2 in overall...
No description available...
1d ago from Motorsport.com
How Elfyn Evans plans to finally achieve rallying’s...
No description available...
1d ago from Motorsport.com
Popular On GunnersToday.com
Real Madrid are looking at £86m Arsenal star to solve...
Real Madrid are reportedly interested in a move for Arsenal attacker...
51m ago from CaughtOffside.com
Terms set: Arsenal open to £20-25m transfer deal with...
Arsenal could reportedly be open to letting versatile defender Ben White...
2h ago from CaughtOffside.com
Carabao Cup semi-final against Chelsea is serious...
Morning all. It's a Carabao Cup semi-final first leg at Stamford Bridge...
5h ago from Arseblog.com
'I don't think I used that word…' – Arteta...
Arsenal manager Mikel Arteta has denied ever saying that Gunners forward...
14h ago from CaughtOffside.com
Comments
Hottest News
Audi F1 title sponsor issues criticism over Ferrari livery
Audi's F1 title sponsor is far from impressed... Read More »
2h ago from RacingNews365.com
When will we see the 2026 Formula 1 cars?
Hype is already building ahead of an exciting... Read More »
1h ago from GrandPrix247.com
Max Verstappen and Daniel Ricciardo set to reunite at...
Red Bull is the first team to host an official F1... Read More »
1h ago from RacingNews365.com
