Vodafone fights massive Indian tax claim
Vodafone prepares to fight Indian tax claim
Vodafone is facing another tax battle, this time with the Indian taxman over
a claim for $2bn (£1bn) from its purchase of controlling stake in Indian
business Hutchison Essar last year.
The claim is for $2bn in capital gains tax on the $11bn deal as Essar’s
assets are based in India, reports the BBC, with the case epxected to start
today.
But Vodafone says the deal was made between two non-Indian businesses.
The telecoms giant has been involved in a number of tax disputes, including a
multi-billion pound reclaim on VAT on 3G mobile phone licenses and its mega-deal
to purchase German business Mannesmann.
Further reading:
Speedy tax resolution unlikely for
Vodafone