Pernod Ricard halts court fight over $314 million India tax demand
Business
Pernod Ricard, the company behind Chivas Regal and Absolut, has decided to stop fighting a $314 million tax demand from the Indian government in court.
Authorities say the company underreported details about its Scotch whisky imports, such as age and composition, to pay less on import tariffs.
Pernod Ricard faces antitrust probes
Instead of battling it out in court, Pernod Ricard will now appeal directly to India's tax authority, which is allowed by law.
This isn't its only challenge in India: it's also facing antitrust investigations and liquor policy allegations, which it denies.
Fun fact: India makes up about 10% of Pernod's global sales.