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The latest update is out from LG Electronics India Limited ( (IN:LGEINDIA) ).
LG Electronics India Limited has concluded an Advance Pricing Agreement with the Central Board of Direct Taxes for the nine-year period from April 1, 2014 to March 31, 2023, resolving long-standing transfer pricing issues with the Indian tax authorities. As a result of the APA, contingent liabilities of ₹1,724.38 million related to direct taxes and ₹3,153.00 million linked to royalty payments to its Korean promoter LG Electronics Inc. will be eliminated, strengthening the company’s balance sheet and reducing uncertainty over historical tax exposures. The agreement will, however, result in a net tax expense of ₹177.12 million (excluding interest) and require LG Electronics India to pay a net amount of ₹38.59 million to its parent under secondary adjustment provisions, providing greater clarity on future tax treatment and offering improved visibility for investors and other stakeholders on the company’s tax risk profile.
More about LG Electronics India Limited
LG Electronics India Limited operates in the consumer electronics and home appliances industry, offering products such as televisions, home entertainment systems, home appliances, and related electronics to the Indian market. As the Indian subsidiary of South Korea’s LG Electronics Inc., it focuses on supplying and marketing LG-branded products across India, supported by local manufacturing and distribution operations.
Average Trading Volume: 249,433
Learn more about LGEINDIA stock on TipRanks’ Stock Analysis page.