Several multinational companies headquartered in the Netherlands, Switzerland and France could be staring at retrospective tax demands for close to ₹11,000 crore on dividend income repatriated from India, following a Supreme Court ruling last week.
The Supreme Court said on Thursday that the lower 5% withholding tax on dividend income of companies was not available to all Organisation for Economic Co-operation and Development (OECD) countries merely on the most favoured nation (MFN) basis