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The Norwegian sovereign wealth fund, the largest in the world, has put aside an 11-figure sum for paying taxes on gains made through its India investments.
“Since 2019, the fund has recognised a provision for future tax obligations relating to capital gains in India. This reduced the relative result in 2020 by 1,844 million kroner,” said the sovereign fund’s latest annual disclosure. This translates into Rs 1,670 crore, adjusting for currencies at the latest exchange rates.
The total value of its India holdings is Rs 89,801.6 crore. The fund has invested in 317 companies that are incorporated in
“Since 2019, the fund has recognised a provision for future tax obligations relating to capital gains in India. This reduced the relative result in 2020 by 1,844 million kroner,” said the sovereign fund’s latest annual disclosure. This translates into Rs 1,670 crore, adjusting for currencies at the latest exchange rates.
The total value of its India holdings is Rs 89,801.6 crore. The fund has invested in 317 companies that are incorporated in
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