From tax notices to allegations of illegally boosting market share, Pernod Ricard is facing several business and regulatory challenges in India. Here are some of the recent challenges for the French spirits giant
India's customs authority in alast year called the company a "habitual litigant" and accused it of a conspiracy "to defraud the Government of India of its legitimate revenue."
Pernod, which challenged the demand, says it has "always endeavoured to act with full transparency and in compliance with customs and regulatory requirements."Pernod says that since 1994, its tax disputes have made it tough to do business in the country.that "ever-lasting litigation has been a big strain on our ease of doing business and has inhibited fresh investment by our group headquartered in Paris for expansion of business in India.
Pernod says it has been in dialogue with Indian authorities as it looks at finding a swift resolution to the matter. In July 2022, Pernod wrote a letter to the federal tax authority stating it was "facing significant business continuity challenges" and that operational challenges were choking its supply chain.India's alcohol market is heavily regulated and Pernod - like much of the industry - has been concerned about the 150% tax imposed on imported liquor.
Pernod's revenue from operations in India stood at $2.4 billion in 2020-21, but taxes and duties - which includes federal, import and state levies - accounted for 79% of that. Its India net profit for the year stood at $130 million.Our Standards:
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