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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