Latest Expert Exchange Queries
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) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: cpt :: due date for vat payment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: list of goods taxed at 4% :: form 3cd :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company
 
 
« VAT (Value Added Tax) »
 Date for filing quarterly VAT returns extended
 Framing of Central Assessments - Dated 2-2-2017 - VAT - Delhi
 CENVAT Credit (Amendment) Rules, 2017
 VAT to Give Way to Consumption Tax
 Import stage VAT under new VAT law
  VAT returns: Relief for traders as UT allows old form
  Grant of Registration under DVAT and CST
 Taxpayers Face Big Financing Costs From VAT Bill 2017
 VAT returns: Relief for traders as UT allows old form
 Gov’t agrees to retain VAT exemptions of seniors, PWDs Read more: https://business.inquirer.net/223121/govt-agrees-retain-vat-exemptions-seniors-pwds#ixzz4W5NV2I48 Follow us: @inquirerdotnet on Twitter | inquirerdotnet on Facebook
 Understanding VAT refunds

Vodafone is prepared for long war on CFC legislation
May, 31st 2008

Releasing its final results this week, Vodafone has said it does not expect resolution of the application of the UK controlled foreign company legislation to the group in the near term.

Vodafone said in last years annual report that the tax at stake was 1.7bn, with as much as 400m in interest costs on top of that, making it one of the largest corporate tax disputes of recent times.

The group has held firm on its provisioning for the charges but has said that it has not added to it as the case drags on.

The case is being followed closely by FDs, not least because it may eventually provide some insight into the tax treatment of controlled foreign companies, currently causing friction between the UK government and multi-nationals.

Two companies, Shire and United Business Media, have already pledged to leave the UK over a threatened tightening of UK rules.

Vodafones tax affairs have also proved some of the most complex of any companys in recent years, with a series of issues in different jurisdictions.

It has been involved in a case in India and was also a party to the failed attempt by mobile phone companies to reclaim VAT on the cost of their third generation mobile phone licences.

The interest alone on Vodafones tax provision stands at 1.6bn, it said this week. The provision has risen by 399m since 2007. Its final results also disclosed that its free cash flow included 700m in payments in respect of longstanding tax issues.

In a recent interview, Vodafones group head of tax Joel Walters commented on the large sums involved in tax disputes.

That creates an illusion that there are significant numbers of issues, he said. Im concerned that once this perception begins to permeate the taxing agency what tends to happen is that the focus comes on enforcing the tax loss, he said.

A Vodafone spokeswoman said: We dont believe we are liable [for CFC tax charges] in respect of our Vodafone Luxembourg subsidiary.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System developers CMS developers Content Management Solutions CMS Solutions CMS India Content Management System India CMS development India Website CMS Website Content Management India Portal CMS India CMS Outsourcing CMS Vendor Complete CMS Custom CMS Services

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