Rafale Bombshell: French Authorities Cleared Anil Ambani's $162 Million Debt After NDA Deal, Says Local Media
Ambani's tax dispute was settled by October 2015 when India and France-based Dassault Aviation were negotiating the Rafale deal. Reliance Atlantic Flag France had offered to pay 7.6 million euros as taxes but the French authorities refused
After the deal, the French authorities accepted 7.3 million euros from Reliance as a settlement, instead of original 151 million euros
Local media in France has reported that the French authorities waived off taxes worth 143.7 million euros or 162.6 million dollars in favour of Indian businessman Anil Ambani's France-based telecom company called "Reliance Atlantic Flag France". Anil Ambani's tax debt was waived off a few months after Prime Minister Narendra Modi announced the Rafale deal with France.
The tax dispute, according to the local media outlet Le Monde, was settled by October 2015 when India and France-based Dassault Aviation were negotiating the Rafale deal. A few months earlier, PM Modi, during an official visit to France in April 2015, had announced that India would acquire 36 fully built Rafale fighter jets from the French company Dassault.
TAX DEBT
Anil Ambani's company was reportedly investigated by the French tax authorities and found liable to pay 60 million euros in taxes for the period 2007 to 2010. Reliance Atlantic Flag France had offered to pay 7.6 million euros as taxes but the French authorities refused and conducted another investigation, the report said.
Reliance offered to pay 7.6 million euros as a settlement. The French tax authorities refused. They conducted another investigation for the period 2010 to 2012 and asked for an additional 91 million euros in taxes.— julien bouissou (@jubouissou) April 13, 2019
Six months after Modi's Rafale announcement, the French tax authorities accepted 7.3 million euros from Reliance as a settlement, instead of the much bigger sum of 151 million euros.— julien bouissou (@jubouissou) April 13, 2019
Another investigation for the period 2010 to 2012 was conducted by the French authorities and Anil Ambani's company was asked for an additional 91 million euros in taxes.
In April 2015, PM Narendra Modi announced the Rafale deal with France-based Dassault. By the time the prime minister announced India's deal to buy 36 Rafale combat aircraft, the total amount owed by Reliance to the French state in taxes was at least 151 million euros, the report said.
However, just six months after PM Modi's Rafale announcement, the French tax authorities reportedly waived off Anil Ambani's 143.7 million euros tax debt and accepted 7.3 million euros from Reliance as a settlement, instead of the original tax debt of 151 million euros.
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