India wants millions in F1 taxes
Honda F1 website
Honda website

MAY 4, 2017

India wants millions in F1 taxes

The return door to India seems to have closed for formula one.

Three Indian grands prix were held near Delhi until 2013, when bureaucratic hurdles ended the deal.

And now, those bureaucratic hurdles seem higher than ever before, with India's supreme court ruling that that the sport owes the government millions in tax.

"We have held that (F1 has) income that is attributable in India (and) will be taxed. The amount that is to be taxed is to be assessed by an assessing officer," the judges ruled.

Local reports said India is seeking 40 per cent of the total business income of the races.

(GMM)

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