Why startups are flipping back to India in spite of the hefty tax bill

In October 2022, the Walmart-owned fintech firm, PhonePe, said it was moving its domicile from Singapore to India. As part of this, it had to go through three steps. From moving all its businesses & subsidiaries to migrating more than 3000 group employees, the board created a new employee stock ownership plan (ESOP)

Peerzada Abrar from Business Standard writes on “ Why startups are flipping back to India in spite of the hefty tax bill” throwing light on the woes of shifting domicile to India, as many Indian startups domiciled abroad are considering shifting their base, or reverse flipping to India with insights from our Partner Rahul Charkha.

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