Vodafone will appeal Indian tax decision

first_img Tags: NULL whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal 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 Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com Vodafone will appeal Indian tax decision KCS-content 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. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofTortilla Mango Cups: Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Vodafone has filed an appeal with India’s Supreme Court after its petition over a tax feud with authorities was dismissed. whatsapp Share Tuesday 14 September 2010 8:57 pmlast_img

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