Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: TAX RATES - GOODS TAXABLE @ 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: form 3cd :: TDS :: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: ACCOUNTING STANDARD :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: VAT Audit :: cpt :: VAT RATES
 
 
« Transfer Pricing »
  Transfer Pricing Adjustments - The Current Irish Landscape
 Transfer Pricing Adjustments - The Current Irish Landscape
 Will politics trump economics on petrol, diesel pricing?
 Private equity funds take ‘double decker’ route to escape tax here
 India to reform port pricing to spur investment
 New rules to cut transfer pricing disputes
 NLSIU gets endowment chair to carry out research on international best practices
 India and Japan to ramp up cooperation in northeast, defence
 Why investors should be wary of pricing guidelines
 CBDT signs 4 more Advance Pricing Agreements
 Multinationals face quandary over transfer pricing

Vodafone sent notice from Indian income tax department over tax overdues
February, 16th 2016

Vodafone has received a notice from the Indian income tax department with regards to tax dues. The notice has asked the British telecom player to pay $2.1bn (£1.4bn, €1.9bn) in taxes or face seizures of its Indian assets.

It was speculated that Vodafone Group CEO Vittorio Colao's visit to India in October 2015 was to address this tax dispute. Colao had then sought to meet both Prime Minister Narendra Modi and Finance Minister Arun Jaitley.

Why advertise with us
The tax dispute dates back to 2007, when Vodafone paid $11bn to billionaire Li Ka-shing-owned Hutchison Whampoa, now part of CK Hutchison Holdings Ltd, to acquire its 67% stake in Hutchison Essar Limited, the Indian mobile telecommunications operator.

While Vodafone has since maintained that it is not liable to pay any taxes to the India government, because it was an offshore transaction, the Indian income tax authorities have long argued that the British telecom company is indeed liable because the transaction involved assets in the country.

While this tax bill is still undergoing international arbitration proceedings, which Vodafone initiated in 2014, Anil Sant, deputy commissioner at the Indian income tax department has informed Vodafone International Holdings BV Dutch unit of its arrears through a letter dated 4 February.

This letter states that the income tax department has the right to recover any amount pending to it, even if it is from an overseas company "from any assets of the non-resident which are, or may at any time come, within India." While it is not clear how the Indian government would react if Vodafone were to refuse to make the payment, analysts have said that this case may influence perceptions of foreign investors' towards India.

This is not the only legal dispute that Vodafone, the second-largest mobile carrier in India, has had with Indian authorities. However, it is the largest in financial terms. The other dispute relates to transfer pricing, which involved the valuation of shares issued by Vodafone India to its foreign parent. This dispute was, however, won by Vodafone at the Bombay High Court in 2015, according to Bloomberg.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions