Infosys agreed to appeal against UK tax assessment: report
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Infosys, a company co-founded by British Prime Minister Rishi Sunak’s father-in-law Narayan Murthy, is facing a £20 million tax dispute with Her Majesty’s Department of Revenue and Customs (HMRC), reports here.
Software services major Infosys on Tuesday admitted that it has appealed against a corporation tax assessment by UK authorities after British media reports cited the company’s annual report to reveal the dispute. Infosys, a company co-founded by British Prime Minister Rishi Sunak’s father-in-law Narayan Murthy, is facing a £20 million tax dispute with Her Majesty’s Department of Revenue and Customs (HMRC), reports here.
The controversy was first disclosed by ‘The Times’. But the revelation comes at a sensitive time for Sunak, who has just sacked Nadim Zahavi, the head of his Conservative Party. An investigation found that Nadim had violated the ministerial code of conduct in his tax affairs. Infosys provides details of certain ongoing disputes with various regulatory authorities, including this specific tax matter with HMRC, an Infosys spokesperson told The Times. Murthy left Infosys in 2014 and is not involved in its operations. His daughter and Sunak’s wife (Akshatha Murthy) holds only 0.9 per cent of the Bengaluru-based company. The stake is estimated to be worth £730 million by The Sunday Times.
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