Walmart receives $1 billion tax bill for PhonePe’s move to India

  • Walmart has been given a $1 billion tax bill due to the relocation of PhonePe Pvt.
  • Walmart took majority ownership of PhonePe Pvt after acquiring the parent company, Flipkart Online Services Pvt.
  • The value of PhonePe Pvt has increased due to the relocation.