No impact of Swiss withdrawal of MFN status to India: Nestle India
3 weeks, 2 days ago

No impact of Swiss withdrawal of MFN status to India: Nestle India

The Hindu  

Fast-Moving Consumer Goods major Nestle India on Thursday said the suspension of the MFN clause granted to India by Switzerland will have ‘no impact’ on the company. The suspension of MFN status under the Double Taxation Avoidance Agreement is a policy issue between the government of India and Switzerland and is not ‘Nestle-specific’, the FMCG firm said in a statement. Earlier on December 11, the Swiss government had announced the suspension of the MFN status granted to India following a ruling by the Supreme Court of India, which in a judgement last year had said MFN status under the DTAA cannot be enforced unless notified under Section 90 of the Income Tax Act. We would like to inform you that Nestle India was/is deducting a 10% withholding tax, and this has no impact on Nestle India,” a Nestle India spokesperson said.

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History of this topic

Mint Explainer: Why Switzerland withdrew MFN status in its tax treaty with India
3 weeks, 4 days ago

Mint Explainer: Why Switzerland withdrew MFN status in its tax treaty with India

Live Mint  

Switzerland has suspended the Most-Favoured-Nation clause in its Double Taxation Avoidance Agreement with India, significantly altering the tax treatment of cross-border dividends. Switzerland has attributed this change to a 2023 Indian Supreme Court ruling in a case involving Nestle SA and others, which clarified that MFN clause benefits require explicit notification by the Indian government under the Income Tax Act, …

Switzerland withdraws India's 'most favoured nation' status: 2 key impacts
Trending News
3 weeks, 5 days ago

Switzerland withdraws India's 'most favoured nation' status: 2 key impacts

India Today  

Switzerland has withdrawn the most Favoured Nation status for India under their Double Taxation Avoidance Agreement, effective January 2025. This move stems from a 2023 Indian Supreme Court ruling involving Nestlé, a Swiss multinational, which clarified that MFN benefits under the treaty are not automatically triggered without proper notification by Indian authorities. Indian businesses must prepare for increased tax liabilities …

Switzerland suspends ‘most favoured nation’ status to India, cites SC's Nestle case ruling
4 weeks ago

Switzerland suspends ‘most favoured nation’ status to India, cites SC's Nestle case ruling

Hindustan Times  

Dividends of Indian entities will be taxed at 10% in Switzerland from January 1 as the European nation has suspended the most favoured nation clause in its Double Taxation Avoidance Agreement with India. REUTERS/Denis Balibouse In a December 11 statement, the Swiss finance department said the move follows a ruling by Supreme Court of India last year that the MFN …

Switzerland cancels 'most favoured nation' status to India over Nestle ruling
Top News
4 weeks ago

Switzerland cancels 'most favoured nation' status to India over Nestle ruling

India Today  

The Swiss government has suspended the most favoured nation status clause in the Double Taxation Avoidance Agreement between India and Switzerland, potentially impacting Swiss investments in India and leading to higher taxes on Indian companies operating in the European nation. According to a December 11 statement by the Swiss finance department, the move follows the Supreme Court of India last …

Switzerland Revokes India’s MFN Status
4 weeks ago

Switzerland Revokes India’s MFN Status

Deccan Chronicle  

Mumbai: Switzerland has suspended the Most-Favoured-Nation status granted to India that could lead to higher taxes on Indian companies operating in the European nation. Effective January 1, 2025, Indian companies operating in Switzerland will be subjected to a heightened withholding tax rate on income such as dividends and royalties generated in Switzerland. This decision follows a ruling by the Indian …

Switzerland withdraws tax MFN status on Indian companies over SC ruling on Nestle
4 weeks, 1 day ago

Switzerland withdraws tax MFN status on Indian companies over SC ruling on Nestle

New Indian Express  

NEW DELHI: In a retaliatory action, the government of Switzerland has withdrawn the application of the Most Favoured Nation clause on Indian entities operating in the European country. The Swiss authorities took the action after the Supreme Court of India rejected automatic applicability of MFN clause under the bilateral tax treaty between the two countries in a case related to …

Nestle India share price falls for sixth straight session. Should you buy the Maggi-maker’s stock after weak Q1 results?
5 months, 2 weeks ago

Nestle India share price falls for sixth straight session. Should you buy the Maggi-maker’s stock after weak Q1 results?

Live Mint  

Nestle India share price traded lower on Friday, extending its decline for the sixth consecutive session. Here’s what brokerages have to say on Nestle India Q1 results and Nestle India shares: Emkay Global Brokerage firm Emkay Global sees driving real internal growth as the key ahead for Nestle India, whereas pricing needs to be balanced to drive structural growth. The …

Nestle India misses Q1 estimates, posts slowest revenue growth in 8 years
5 months, 2 weeks ago

Nestle India misses Q1 estimates, posts slowest revenue growth in 8 years

Hindustan Times  

Nestle India's first-quarter profit and revenue came in below expectations on Thursday as price hikes drove shoppers towards cheaper rivals, pushing the consumer giant to mark its slowest revenue growth in eight years. The Indian arm of the Swiss food giant Nestle reported a net profit of 7.47 billion rupees for the three-month period ended June, missing analysts' estimate of …

Nestle India highlights significant gains from parent’s IPRs amid royalty payout dispute
6 months, 3 weeks ago

Nestle India highlights significant gains from parent’s IPRs amid royalty payout dispute

Live Mint  

Packaged foods company Nestle India has said it has benefitted "immensely" from its parent company's intellectual property rights, or IPRs, over the years, leading to greater speed of innovation as well as cost-savings to the business. Nestle India maintains a licensing agreement with its parent company that grants it exclusive rights to manufacture and sell Nestle products in India, use …

Nestle profit up 27%; to form JV with Dr Reddy’s
8 months, 2 weeks ago

Nestle profit up 27%; to form JV with Dr Reddy’s

New Indian Express  

CHENNAI: Nestle India has posted strong quarterly numbers a day after Hindustan Unilever, another FMCG major, announced a disappointed set of numbers. The board of directors of the company have recommended a final dividend for the fifteen months financial year ended 31st March 2024 of 8.50 per equity share amounting to 819.5 crore. Going forward, the company said commodity prices …

Nestle India Q4 results declared today; net profit jumps 27%, revenue up 9% at ₹5,268 cr
8 months, 2 weeks ago

Nestle India Q4 results declared today; net profit jumps 27%, revenue up 9% at ₹5,268 cr

Hindustan Times  

FMCG major Nestle India has revealed its Q4 results and the standalone profit has jumped as much as 27 per cent to ₹934 crore, which was a significant increase from ₹737 crore a year ago, the company has reported in its regulatory filing. Nestle India net profit beat analysts’ estimates by a wide margin - they had pegged it at …

Nestle India Q4 profit surges over 4 per cent to Rs 655 crore, revenue rises 8 per cent
11 months ago

Nestle India Q4 profit surges over 4 per cent to Rs 655 crore, revenue rises 8 per cent

India TV News  

Nestle India Ltd, a leading FMCG company, recorded a 4.38 per cent increase in net profit, reaching Rs 655.61 crore for the quarter ended December 31 compared to Rs 628.06 crore in the same period last year, according to a regulatory filing. However, Nestle India's revenue from operations increased by 8.07 per cent to Rs 4,600.42 crore compared to Rs …

Nestle India poised to lead FMCG sector's Q3 earnings
1 year, 2 months ago

Nestle India poised to lead FMCG sector's Q3 earnings

Live Mint  

Fast-moving consumer goods companies—Hindustan Unilever Ltd, Nestle India Ltd and ITC Ltd—are set to kickstart the sector’s September quarter earnings on Thursday. “Our FMCG pricing monitor reveals that Nestle continued to take price increases on several products during the quarter," said a Kotak Institutional Equities report dated 4 October. This comes at a time when rural demand recovery has been …

Nestle India Q3 Results | Net Profit Up 8 Per Cent To Rs 668 Crore On Broad-Based Growth
2 years, 2 months ago

Nestle India Q3 Results | Net Profit Up 8 Per Cent To Rs 668 Crore On Broad-Based Growth

ABP News  

FMCG major Nestle India Ltd on Wednesday clocked an 8.25 per cent rise in its net profit to Rs 668.34 crore for the third quarter ended September 30. Nestle India's net sales rose 18.24 per cent to Rs 4,591 crore during the period under review against Rs 3,882.57 crore in the corresponding period of the last fiscal year, the company …

Nestle India Shares Tank 5 Percent Post December Quarter Earnings
3 years, 10 months ago

Nestle India Shares Tank 5 Percent Post December Quarter Earnings

News 18  

Shares of Nestle India Ltd declined 5 per cent in early trade on Wednesday after its December quarter earnings failed to cheer investors. FMCG major Nestle India Ltd on Tuesday reported a 2.25 per cent rise in net profit to Rs 483.31 crore for the fourth quarter ended December. Net sales rose 9.16 per cent to Rs 3,417.52 crore during …

GST anti-profiteering authority slaps Rs 90 cr penalty on Nestle; finds company failed to pass on rate cut benefits to consumers
5 years ago

GST anti-profiteering authority slaps Rs 90 cr penalty on Nestle; finds company failed to pass on rate cut benefits to consumers

Firstpost  

Last year, Nestle had deposited Rs 16 crore of the total penalty amounting to Rs 90 crore in the fund meant for the consumer welfare Nestle suffered a major setback after the National Anti-profiteering Authority found that the fast-moving consumer goods giant did not pass on the GST rate cut benefits to consumers, said news reports. The NAA found that …

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