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The Times of India
The Times of India
Business
Bloomberg

Walmart gets $1 billion tax bill for shifting PhonePe headquarters to India: Report

PhonePe Walmart India Flipkart

Walmart and other PhonePe shareholders will have to pay nearly $1 billion in tax after the digital payments company shifted its headquarters to India, according to people familiar with the matter.

The bill stems from the relocation and rise in value of PhonePe, which Walmart took majority ownership of after acquiring parent outfit Flipkart Online Services.

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