Tax row: Vodafone asked to reply by Tuesday

December 30, 2013 06:52 pm | Updated June 10, 2016 06:38 am IST - New Delhi

Vodafone has been asked to give the final reply by Tuesday on the government proposal for a non-binding conciliation to settle the Rs 11,200 crore tax dispute, Finance Minister P Chidambaram has said.

“The conciliation has not started. Why has it not started? As the CEO of Vodafone told me they have multiple legal advisors and they do not seem to know which is the correct legal advice.

“We have written to them recalling the promise made by the CEO when he met me that they will give a final answer in about 2-3 weeks. I think we have told them to give us the final answer by the 31st of December,” Mr Chidambaram said in a TV interview.

Seeking to resolve the long-standing tax dispute with Vodafone, the Cabinet in June had approved non-binding conciliation with the British telecom major.

The outcome of the conciliation, however, needs to be ultimately vetted by Parliament as it would require amendment to the Income-Tax Act.

Vodafone has been asked to pay Rs 11,200 crore tax on its 2007 acquisition of Hutchison Whampoa’s stake in Hutchison Essar.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.