Anil Ambani’s Company Admits to Receiving Rs 11,24,99,03,558 Tax Waiver After Modi Announced Rafale Deal
French newspaper Le Monde had revealed that French authorities gave Ambani's telecom company the said waiver.
Anil Ambani‘s Reliance Communications has reportedly confirmed that that French tax authorities waived €143 million in tax settlement.
Journalist Julien Bouissou reporting for Le Monde wrote that French tax authorities had investigated Ambani’s telecom company ‘Reliance Atlantic Flag France’ and had found it liable to pay a total of 151 million Euros in taxes for the period between 2007 and 2012. The report added that when Reliance offered to pay €7.6 million as settlement, french tax authorities had refused the offer.
However, six months after Prime Minister Modi announced the Rafale deal, in which Ambani’s Reliance Defence won a major offset contract, French authorities accepted €7.6 million as settlement from the telecom company, waiving €143 million equivalent to around Rs 1125 crore as per today’s exchange rate.
Bouissou tweeted about the confirmation received from Reliance Communications.
Reliance Communications also "denies any favouritism or gain from settlement" and it also claims that the tax demands from the French state were "unsustainable and illegal"
— julien bouissou (@jubouissou) April 13, 2019