SoftBank may face $600 mn tax if it sells Flipkart stake
SoftBank is liable to pay 40% capital gains tax of $600 million if the Japanese conglomerate plans to sell its 20-22% share in Flipkart before August 2019. The tax applies only if SoftBank exits less than a year after investing in Flipkart. Earlier, SoftBank CEO Masayoshi Son confirmed its investment of $2.5 billion in Flipkart is worth $4 billion.