NEW DELHI: BPO firm WNS today said that it does not expect any material tax liabilities arising out of the current assessments.
"We do not expect any material tax liabilities to arise out of our current tax assessments," WNS Chief Financial Officer Deepak Sogani said in a statement.
Earlier in the first week of this month, the company in a filing before US securities regulator SEC had said that "we are subject to transfer pricing and other tax-related regulations and any determination that we have failed to comply with them could materially adversely affect our profitability".
The filing had further mentioned that the company had orders of assessment for fiscal 2003 to fiscal 2010 pending before various appellate authorities.
"These orders assess additional taxable income that could in the aggregate give rise to an estimated Rs 2,827.3 million (USD 52.1 million based on the exchange rate on March 31, 2013) in additional taxes, including interest of Rs 1,029.4 million ( USD 19.0 million based on the exchange rate on March 31, 2013)," the filing had said.
It had also added that "we may be required to pay additional taxes in connection with audits by the Indian tax authorities".
Source: The Economic Times
"We do not expect any material tax liabilities to arise out of our current tax assessments," WNS Chief Financial Officer Deepak Sogani said in a statement.
Earlier in the first week of this month, the company in a filing before US securities regulator SEC had said that "we are subject to transfer pricing and other tax-related regulations and any determination that we have failed to comply with them could materially adversely affect our profitability".
The filing had further mentioned that the company had orders of assessment for fiscal 2003 to fiscal 2010 pending before various appellate authorities.
"These orders assess additional taxable income that could in the aggregate give rise to an estimated Rs 2,827.3 million (USD 52.1 million based on the exchange rate on March 31, 2013) in additional taxes, including interest of Rs 1,029.4 million ( USD 19.0 million based on the exchange rate on March 31, 2013)," the filing had said.
It had also added that "we may be required to pay additional taxes in connection with audits by the Indian tax authorities".
Source: The Economic Times
