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SBD Global/July 31, 2013/Events and Attractions
South Korean F1 Grand Prix In Danger Of Being Dropped From Calendar In 2014
Published July 31, 2013
TAX ISSUES: The TIMES OF INDIA's Devadyuti Das reported "the issue of custom duty on import of F1 cars and equipment made the teams wary ahead of the race last year," and JPSI had to deposit close to Rs 600 crore "as duty for the equipment to pass through customs." Sources said, "The tax issues were a major concern for all the teams and these were communicated to Bernie. We are trying to approach the sports ministry through FMSCI President [Vicki] Chandhok to find a long-term solution" (TIMES OF INDIA, 7/30). IANS reported Ecclestone confirmed that the 2014 Indian Grand Prix "will have to be dropped." He said, "When we signed the five-year deal with Jaypee, we were keen on going to India in the first half and Jaypee wanted it to be in October. We gave in at that time, but now it looks we will have the race early 2015" (IANS, 7/30).