France Gave Anil Ambani’s Company Rs 11,24,99,03,558 Tax Waiver Months After Modi Announced Rafale Deal
Per an exposé published in French newspaper Le Monde.
Anil Ambani’s France-based telecom company ‘Reliance Atlantic Flag France’ reportedly received a tax waiver worth 143.7 million Euros, a few months after Prime Minister Narendra Modi announced plans to buy 36 Rafale fighter jets from Dassault Aviation.
Using today’s Euro to Rupee exchange rate, the waiver is worth Rs 1125 crore.
Journalist Julien Bouissou reporting for Le Monde wrote that french tax authorities investigated Ambani’s telecom company and found it liable to pay 60 million Euros in taxes for the period between 2007 and 2010.
When Reliance offered to pay 7.6 million Euros as settlement, french tax authorities refused the offer.
After conducting a subsequent investigation for the period between 2010 and 2012, the French authorities then asked for an additional 91 million Euros in taxes.
Breaking : French authorities waived taxes worth 143,7 million euros for Anil Ambani's French-based company just a few months after PM Modi announced his plans to buy 36 Rafale fighter jets from Dassault. Our story with @annemichel_LMhttps://t.co/Tpw50cJg0c
— julien bouissou (@jubouissou) April 13, 2019
By April 2015, the total amount owed by Reliance in French taxes was at least 151 million Euros. However, it was at this time that Modi announced his plans to buy 36 Rafale fighter jets from Dassault.
Bouissou explains that six months after the announcement, French tax authorities accepted less than the initial offer from Reliance. Ambani’s company paid 7.3 million Euros as settlement, instead of the 151 million Euros owed.