PhonePe shareholders are expected to pay $1 billion in taxes to the Indian government

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Following its decision to relocate its headquarters to India, PhonePe shareholders are expected to pay $1 billion in taxes to the Indian government.

According to Bloomberg, citing sources, Walmart and other PhonePe shareholders will have to pay the money due to relocation considerations and a rise in the value of PhonePe. General Atlantic, Qatar Investment Authority, and others are investing in the digital payments company, which has a pre-money valuation of $12 billion. Flipkart spun off its digital payments platform as a separate entity last month.

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PhonePe shareholders are expected to pay $1 billion in taxes to the Indian government

Following its decision to relocate its headquarters to India, PhonePe shareholders are expected to pay $1 billion in taxes to the Indian government.

According to Bloomberg, citing sources, Walmart and other PhonePe shareholders will have to pay the money due to relocation considerations and a rise in the value of PhonePe. General Atlantic, Qatar Investment Authority, and others are investing in the digital payments company, which has a pre-money valuation of $12 billion. Flipkart spun off its digital payments platform as a separate entity last month.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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