Vodafone to fight latest Indian tax ruling
Long-running Vodafone Indian tax battle takes another twist
Vodafone looks likely to be dragged back into the courts over a $2bn (£1.4bn)
clash with the Indian tax authorities.
The Indian Income Tax Department has served a new notice on Vodafone that it
should have paid the tax on its $11bn acquisition of Hutchison Essar, reported
the
FT.
The three-year battle had seen the Supreme Court push the case back to the
tax department to re-examine the case.
Vodafone
insists that the acquisition took place outside India’s jurisdiction. It said
that the purchase was made by Vodafone International based in Holland, while the
seller of the company was based in the Cayman Islands.
The telecoms giant said it was “fully confident” that it would not have to
pay tax, and would appeal to the Bombay High Court.
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