Walmart Confirms It Paid Most of $1 Billion Tax to Move PhonePe Headquarters to India
Walmart late on Wednesday confirmed that it had already paid the Indian government most of the nearly $1 billion (roughly Rs. 8,300 crore) in tax owed after digital payments company PhonePe, which the US retailer owns through Flipkart, shifted its headquarters from Singapore to India.Walmart bought a controlling stake in Indian e-commerce giant Flipkart in 2018, giving it ownership of PhonePe. The company said last month it had completed the separation of PhonePe from Flipkart, adding that it…