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India exempts rupee payments for Iran oil from hefty taxes 02 Jan 2019

India exempts rupee payments for Iran oil from hefty taxes

India’s finance ministry has exempted rupee payments made to the National Iranian Oil Co (NIOC) for crude oil imports from a steep withholding tax, according to a government order reviewed by Reuters. The exemption, put in place December 28 but backdated to November 5, will allow Indian refiners to settle about $1.5 billion of outstanding […]