Capricorn (Cairn) Energy has announced that it has entered into the final stage of its undertaking with the Government of India to resolve a dispute regarding a retrospective capital gains tax assessment issued by the India tax authorities in 2016 for an indirect transfer of shares in 2006. This will include a tax refund of approximately INR 79 billion (~USD 1.06 billion). Note, Cairn Energy changed its name to Capricorn Energy in December 2021.
As previously reported, the 2006 transfer was…