India Challenges Vodafone Arbitration Ruling In Singapore: Report
An international arbitration tribunal in The Hague had ruled that India s imposition of a tax liability on Vodafone was in a breach of an investment treaty agreement between India and the Netherlands.
Representative image. Photo: Reuters
Business24/Dec/2020
New Delhi: India has challenged in Singapore an international arbitration court’s verdict against it over a $2 billion tax claim involving Vodafone Group Plc, a senior government official told
Reuters on Thursday on condition of anonymity.
Vodafone, in September, had won the case against India, ending one of the most high-profile disputes in the country that had caused concern among investors over retrospective tax claims on companies.
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However, the Union Finance Ministry is yet to respond
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A man speaks on his mobile phone as he walks past logos of Vodafone painted on a roadside wall in Kolkata. File photo
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REUTERS
However, the Union Finance Ministry is yet to respond
India has challenged in a Singapore court, the international arbitration tribunal verdict that overturned its demand for ₹22,100 crore in back taxes from Vodafone Group Plc, sources said on Thursday.
An international arbitration court had on September 25 rejected tax authorities’ demand for ₹22,100 crore in back taxes and penalties relating to the British telecom giant’s 2007 acquisition of an Indian operator.
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The value of stocks and shares and any dividend income, may fall as well as rise, and is not guaranteed so you may get back less than you invested. You should not invest any money you can’t afford to lose and should not rely on any dividend income to meet your living expenses. Stocks listed on overseas exchanges may be subject to additional dealing and exchange rate charges, administrative costs, withholding taxes, different accounting and reporting standards, may have other tax implications, and may not provide the same, or any, regulatory protection. Exchange rate charges may adversely affect the value of shares in sterling terms, and you could lose money in sterling even if the stock rises in the currency of origin. Any performance statistics that do not adjust for exchange rate changes are likely to result in inaccurate real returns for sterling-based UK investors.