News Details

Indian government amends tax laws to lure F1 back

The Indian government has taken steps to lure Formula 1 back to the country after the race was dropped from the 2014 calendar. One of the main sticking points, which has caused a great deal of hassle to the teams, was the governments view on F1, which it doesn't deem a sport and is therefore liable to pay import tax on any equipment it brings into the country. Despite numerous calls to change the law, it remained in place. However the Directorate General of Foreign Trade (DGFT) has now amended the policy relating to the 'importation of cars and motorcycles for use in motor racing events'. The change allows vehicles and equipment to be imported for a maximum of 30 days, after that time they...
Full Story »
1y ago from TheF1Times.com 0
Share

You May Also Be Interested In...

New Jersey venue could change

Sutton Images Enlarge Bernie Ecclestone has revealed that the venue for...
1y ago from espnF1.com

Michael Schumacher 'stable' but critical four days...

Grenoble, France:  Formula One legend Michael Schumacher remained...
1y ago from NDTVSports.com

F1 2014 – Ex-F1 drivers head to Formula E

A wave of ex-formula 1 drivers are making their way to “formula E”, a...
1y ago from F1.co.uk

Austrian circuit gets green light

It is all systems go for the return of the Austrian Grand Prix with the...
1y ago from PlanetF1.com

Elsewhere On The Network

Popular On MotoGPToday.com

Rossi: Your team-mate is the first enemy

Yamaha team-mates Valentino Rossi and Jorge Lorenzo are now first and...
5h ago from Crash.net

Miller: “We are making steps forward”

Jack Miller is confident his team is moving in the right direction as...
3h ago from MotoGP.com

Valentino Rossi’s love affair with Mugello

Mugello has been the scene of some of the greatest moments in his career,...
12h ago from MotoGP.com

Can Ducati end its losing streak at Mugello?

It’s been almost five years since a Ducati rider last won a MotoGP race...
7h ago from Motorsport.com

Popular On IndyCarToday.com

IndyCar: Wilson hoping for more with Andretti

Veteran Indy car driver Justin Wilson has been presented with a series of...
4h ago from Racer.com

Video: Drivers preview 'Dual in Detroit'

No description available...
8h ago from GPUpdate.net

Round Table Recap - Round 6 - Indianapolis 500

It's Wednesday, which means INDYCAR announced their post-event penalties...

IndyCar hands down Indianapolis 500 penalties

James Davison’s Dale Coyne Racing squad was handed a $10,000 fine as...
23h ago from SpeedCafe.com

Popular On TotalWRC.com

Olsbergs MSE Ford returns to Global Rallycross to...

2015 championship season opens this weekend in Fort Lauderdale Charlotte,...
7h ago from Motorsport.com

Portugal driver report: Part 2

Thierry Neuville (Hyundai i20)A pretty miserable weekend for the likeable...
8h ago from WRC.com

Erik Carlsson 1929-2015

Swedens 'Mr Saab' and a pioneer of left-foot braking
12h ago from WRC.com

Portugal driver report: Part 1

Jari-Matti Latvala (VW Polo R)Victory in Portugal came at just the right...
1d ago from WRC.com

Popular On GunnersToday.com

Arsenal’s Per Mertesacker: It was hard to forget...

A little tension could be considered healthy in FA Cup final week but Per...
1h ago from TheGuardian.com

Surprise victors at Arsenal's Emirates Stadium

Anyone who thinks that the last ball had been kicked at Emirates Stadium...

Nicholas: Walcott must start

Charlie Nicholas has warned Arsene Wenger that he must start Theo Walcott...
4h ago from SkySports.com

Super agent Jorge Mendes could scuttle Arsenal's move...

We have been heavily linked with a move for Jackson Martinez recently,...
8h ago from AllArsenal.com

Comments

comments powered by Disqus

Hottest News

Recent News

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.