Orme THE FINE PRINT & Walmart to submit details of capital gains tax deducted from Payments, within 15 days of closing the Flipkart deal & Tax department will scrutinize the jurisdictions from where Investments have been routed and taxation treaty clauses Baa Sacra er nt ae Pees a > Flipkare’s domestic and foreign investors to pay tax for capital WA gains & Onus will be on Walmart to deduct the tax before making Payments to sellers a SS > While Walmart is US-based and Flipkart is registered in Singapore, their deal will attract indirect transfer provisions under Section 9 of the Income Tax (IT) Act, as over 50% of assets are in India > As Flipkart’s buyer, Walmart has to withhold tax while making payments to sellers under Section 197 of IT Act > SoftBank said deferred tax of about [y@_] errno ne > ees) P : WALMART INDIA From Kart to Mart: The milestones Para sssadinsanalandsingy Selceupriplarasce | a cance str a Sengatura me uo metin Wall 2oOsatI betvandod seonntchaae svat enesnda s Ripka resisting faveatheen fulsimeemplye, Bor opeststie Seeger jnarunsarin Nay 08 !NOCTOBER2009,Ac se ascomeswalnar Peoememtontat hes tnrexerpemns i Samson Strmtion Monte seamscenenrreie Bergen rans Tgrcotlekcaekajan ou ima declines Kaisaentyemcas |) eretetimaet Fipeantonrtel| Gonmyucaleede — crmpchateleaand ‘Suton om fence Gioupcetisahinsud ——anystrsundetie Sy anivicesat we ‘ous hana Stannanenacrice Serta sion Fund added Sumas SiShinoniotieyise 1 Fiano bey yor sszoreumecutttes Snaps rtiedeaioisto—m_Waimsresyis Semencayestrtipkt—ay asim sities 9 See eae eee Salyer or ftoriitegacredicers wFlpantupstactshares lower Tuciaiaytacoer wonksstaniioson smallness Iwo ripaipees Geuiietercices Ietamspeacr | man pairs, ‘GshonDalvery india aud warehouses themesadealwidhWalmart howls and instruuonsWhat's at Stake Tiger Global, fF Softbank, the Naspers, accel, | biggest stakeholder Tencentand | | with 20%, is founders seoking about enn eonsa | $15-17B 55% | $10-128 = valuation to buy the of Flipkart SoftBank shares In The Cart eee may look ata Walmart | Walmart in eanetet i may spend talks with Walmart has @ about Flipkart also ramped up 7 $10 billion | investors such ‘ecommerce HU es for stake | as Tiger Global, | efforts inUs after SUSE | in multiple | Accel &Naspers | buying Jet.com Deu nes Be Aeon) 51% stake tranches _ to buy stake for $3b in 2016 Pee Ue Resa ete Bonobos, Parcel, Hayneedie and ModCloth « Worth of Flipkart’s eee S26 teapron act) nex 11,600 TYcoun _Es0ps held by about 100 current . tyMPs——_& former employees now worth 2009 2010 2012 2013 2014 2015 2016 2017 2018 more than $1 million each WALMART TO PICK UP 60% IN FLIPKART Who's buying? Walmart and Google's Alphabet to pick up 75 per cent in Flipkart. Walmart to take 60 per cent, Alphabet 15 per cent ———— What about management? = Walmart to appoint three on Flipkart board. Kalyan Krishna- How much is Flipkart valued? Around $20 billion Who's exiting? Tiger Global, Accel to sell bulk | murthy to stay as head. Binny of their stakes. SoftBank to exit | Bansal to remain group CEO. completely Sachin Bansal may goTwist In The Tale Firkartwas SoftBank’s Tillafew Flipkart’s minority | biggest India Alibaba, which weeks ago, | investors and investment. competes with SoftBank management have | Italsoholds Walmart and was backing | therightto gofor | stakes in Tencent- Amazon's bid } an IPO that will Paytm Mall backed JD.com for Flipkart | help unlock value | &Snapdeal _—_ in China wamanwit Fi room ‘The initial purchase mekeefforts to Binny Bansal willhavea Drice of ordinary shares | avoidhaving noa-compete agreement ot silert iy einer any ota wih waver for 28 wi Fi group months trom wt Soeur etme mee Perms ee Peee em Separe Sersen tomeronms [siete Ents wamartwilhavetwo | cause to purchase | nvestme Independentareciorstor | additional shares |" ‘the next 2 years and can worth $3 billion any appaicor remove | Seere same price on or LL Indepensetarecors | Asana ee after consutung Of the closing date oa