Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustrationhas already paid the Indian government most of the nearly $1 billion in tax after digital payments company PhonePe shifted its headquarters from Singapore to India, a source with direct knowledge of the matter told Reuters.
"Walmart has already paid most of the 78 billion rupees that was incurred as a capital gains tax after PhonePe investors sold their stake in the Singapore entity and invested in the Indian entity following the domicile change," the source with direct knowledge of the matter said.
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