Vodafone’s tax battle with the Indian authorities began yesterday, with
opening arguments heard in the telecoms giant’s attempt to bat away a $2bn
(£1bn) CGT claim.
The Bombay High Court heard Vodafone argue that its purchase of Hutchison
Essar was not taxable under ‘beneficial ownership’ rules in India, as the shares
changed hands in another jurisdiction, reported the FT.
The Indian taxman argues that although Hutchison made the capital gain,
Vodafone should have withheld the tax on its behalf.
The bulk of Hutchison Essar’s assets are in India.
Making Tax Digital will impose significant additional tax compliance costs on small businesses for little or no medium term benefit, tax and small business experts told MPs
MHA MacIntyre Hudson has partnered with cloud accounting software provider Xero ahead of the government’s requirement for digital records
The drive towards a fully digital tax regime is an admirable one, but mandation is simply wrong, according to one of the UK's most senior tax technology practitioners - Paul Aplin
Does Darwin's theory apply to taxation? Colin ponders...