By BW CFO World Online Bureau
Vedanta contributed Rs 2.74 trillion to the exchequer in the past 10 years and has also paid 550 cr high tax as compared to last year
Vedanta a natural resources major claimed that it had made a contribution of Rs 2.74 lakh crore to the exchequer in the past 10 years. It was noted that Vedanta’s contribution to the exchequer was Rs 34,562 crore in 2020-21 which was equal to 40 per cent of the consolidated turnover of the company.
Even after the high number of challenges faced by the company during the pandemic, Vedanta’s tax contribution in FY21 was nearly Rs 550 crore higher than that of the previous financial year.
The tax corporation includes corporate income taxes, royalties, profit-oil and significant indirect contributions by the way of withholding taxes or indirect taxes. Vedanta also signified that it is the only corporate in the country with such detailed reports that breaks down key components like contribution, taxes paid and economic value generated.
“Operating responsibly is an integral part of our ethos and governance. In the past 10 years, Vedanta has made a significant tax contribution of Rs 2.74 lakh crore to the exchequer,” Vedanta Group CEO Sunil Duggal said.
Vedanta concluded the meeting by presenting all of its advantages and also stating that no other corporate has done this and in a way stating that Vedanta is one of the best natural resources major.