Yamaha Motor cannot send royalty to parent
New Delhi: Yamaha Motor India's proposal to remit royalty to its parent from the sales of YBX motorcycles in Nepal and Bhutan has been shot down by the union government.

According to sources, the company recently filed an application with the Foreign Investment Promotion Board (FIPB) seeking nod to the royalty payment plan.

Yamaha Motor India planned to pay royalty for the sale of its motorcycles YBX model at $25 per unit (subject to Indian tax deductions) in Nepal and Bhutan for three years from February 1996 to January 1999.

From February 1999 to January 2003, royalty was proposed to be paid at $30 per unit (subject to tax deductions).
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