SABMiller faces India tax fee

Indian regulators have demanded London-listed firm SABMiller pays out $39.5m (£24m) in tax for its 2006 acquisition of assets in the country from Australian brewer Fosters. The firm argues it is not eligible for tax as the deal was struck between two non-resident firms. Yet New Delhi is seeking retrospective tax on deals completed outside of India, with the SABMiller claim the latest in a string of attempted tax clawbacks – including Vodafone’s deal with Hong Kong-listed firm Hutchison for assets in India.