London: Formula One Teams Association (FOTA) chairman Martin Whitmarsh has played down speculation that the Indian Formula One Grand Prix at Greater Noida’s Buddh International Circuit could be boycotted because of wrangling over tax. According to reports, the F1 teams and drivers are concerned that they will be hit with big tax bills over the race, which will be held on October 30.
“The teams are concerned about the implications of withholding tax in India and being taxed locally. But I don’t believe [the race] is seriously under threat,” Whitmarsh, who is also the McLaren Mercedes team principal, said.
“I am sure this will be resolved,” he added.
Whitmarsh further admitted that the there have been no assurances from the Indian tax authorities that the matter will be resolved in a satisfactory manner.
“There is a concern, we do need to get it resolved, but I’m sure it will be resolved, so we shouldn’t get too excited about it. It’ll be fine,” he said.
Bureau Report
First Published: Saturday, September 10, 2011, 16:50Thank for your comment. Your comment will be seen by our moderator..!
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