Vodafone gets reminder on $2 b tax dues

British telecommunications carrier Vodafone Group Plc, on Saturday, said it had received a reminder from tax authorities on disputed tax dues over its 2007 acquisition of Indian mobile assets.

Vodafone, the world's biggest mobile operator by revenue, said in a statement the reminder did not include a deadline for payment.

“Vodafone has replied to this reminder, stating that it continues to believe that no tax is payable on the above transaction,’’ the statement said.

Britain-based Vodafone, the largest overseas corporate investor in India, has repeatedly clashed with tax authorities over a string of tax and regulatory issues since it bought into the country in 2007.

A year ago, the >Supreme Court ruled in favour of Vodafone in a five-year, $2 billion battle with tax authorities arising from its acquisition of Hutchison Whampoa's Indian mobile business.

The Centre later amended the 50-year-old tax laws enabling it to make retroactive tax claims on long-concluded corporate deals.

Prime Minister Manmohan Singh set up a panel to review the changes.

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Printable version | Aug 12, 2020 12:49:11 PM |

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