SEC Filings

20-F
WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018
Entire Document
 


Table of Contents

The following sets forth the details of these orders of assessment:

 

Entities

   Tax year(s)      Amount
demanded
(including
interest)
    Interest on amount
Demanded
 
     ( and US dollars in millions)  

WNS Global

     Fiscal 2004      12.5      $ 0.2 (1)    3.1      $ 0.1 (1) 

WNS Global

     Fiscal 2005      27.4      $ 0.4 (1)    8.6      $ 0.1 (1) 

WNS Global

     Fiscal 2006      489.1      $ 7.5 (1)    181.5      $ 2.8 (1) 

Permanent establishment of WNS UK in India

     Fiscal 2006      67.9      $ 1.0 (1)    24.1      $ 0.4 (1) 

WNS Global

     Fiscal 2007      98.7      $ 1.5 (1)    31.9      $ 0.5 (1) 

Permanent establishment of WNS NA Inc. (“WNS NA”) and WNS UK in India

     Fiscal 2007      18.6      $ 0.3 (1)    4.4      $ 0.1 (1) 

WNS Global

     Fiscal 2008      819.6      $ 12.5 (1)    344.1      $ 5.3 (1) 

Permanent establishment of WNS NA in India

     Fiscal 2008      19.5      $ 0.3 (1)      —          —    

Permanent establishment of WNS UK in India

     Fiscal 2009      6.7      $ 0.1 (1)      —          —    

WNS Global

     Fiscal 2010      60.2      $ 0.9 (1)    23.5      $ 0.4 (1) 

WNS BCS

     Fiscal 2010      1.0      $ 0.1 (1)      —          —    

WNS Global

     Fiscal 2012      305.7      $ 4.7 (1)    107.4      $ 1.6 (1) 

WNS Global

     Fiscal 2013      423.0      $ 6.5 (1)    137.2      $ 2.1 (1) 

WNS Global

     Fiscal 2014      480.1      $ 7.4 (1)    257.4      $ 3.8 (1) 

Total

      2,830.0      $ 43.4 (1)    1,123.2      $ 17.2 (1) 

Note:

 

(1) Based on the exchange rate as at March 31, 2018.

The aforementioned orders of assessment allege that the transfer prices we applied to certain of the international transactions between WNS Global or WNS BCS (each of which is one of our Indian subsidiaries), as the case may be, and our other wholly-owned subsidiaries named above were not on arm’s-length terms, disallow a tax holiday benefit claimed by us, deny the set off of brought forward business losses and unabsorbed depreciation and disallow certain expenses claimed as tax deductible by WNS Global or WNS BCS, as the case may be. As at March 31, 2018, we have provided a tax reserve of 806.2 million ($12.4 million based on the exchange rate on March 31, 2018) primarily on account of the Indian tax authorities’ denying the set-off of brought forward business losses and unabsorbed depreciation. We have appealed against these orders of assessment before higher appellate authorities.

 

134