The government has approved 23 foreign direct investment proposals including the Rs 460 crore (Rs 4.60 billion) plan of Shell Gas BV to set up a 100 per cent subsidiary in India to market transportation fuels.
French oil giant Total will take 26 per cent stake in Royal Dutch/Shell's $600 million Hazira liquefied natural gas import project in Gujarat.
Transfer pricing tax orders of Income Tax against Shell and Vodafone pertain to alleged undervaluation of shares issued by their domestic subsidiaries to the parent companies abroad.
APAs are part of govt's aim to move to a non-adversarial tax regime.
Move to address MNCs' taxation woes; UK likely to be the next.
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