Vodafone will appeal Indian tax decision

first_img Show Comments ▼ Vodafone will appeal Indian tax decision The lower court ruled that the Indian tax system has jurisdiction over tax bills in cross-border mergers.Vodafone, which is fighting a tax bill in India from its 2007 purchase of Hutchison Whampoa’s mobile business in the country, filed an appeal with the Bombay High Court in June challenging the tax department’s jurisdiction over the bill.The court dismissed its petition but said Indian tax authorities would not issue a final order to Vodafone for the next eight weeks, even though tax proceedings would continue. Vodafone was free to separately raise with them the issue of its liability to deduct tax on the transaction, it said.After the court ruling, Vodafone said that it would consider its next steps, which included the option of an appeal to the Supreme Court.Vodafone, which paid $11.1bn (£7.18bn) for the deal with Hutchison, has not said how much the authorities were seeking but it is estimated at around $2.6bn.Indian tax authorities have said Vodafone’s deal was liable for tax because most of the assets were based in India and, under Indian law, buyers have to withhold capital gains tax liabilities and pay them to the government. Vodafone has earlier said Indian law did not require it to deduct tax and that capital gains tax is usually paid by the seller. Tags: NULL whatsapp More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org KCS-content Share Vodafone has filed an appeal with India’s Supreme Court after its petition over a tax feud with authorities was dismissed. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald whatsapp Tuesday 14 September 2010 8:57 pmlast_img

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