Vodafone Tax Case: India Moves Singapore Court Against Arbitration Panel Verdict
An international arbitration court had in September last year rejected tax authorities demand for Rs 22,100 crore in back taxes and penalties relating to British telecom giant Vodafone s 2007 acquisition of an Indian operator.
Photo: PTI
Business10/Feb/2021
New Delhi: India has challenged in the Singapore high court an international arbitration tribunal’s verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, and the order passed in Cairn Group’s case is under consideration of the government, Parliament was informed on Monday.
An international arbitration court had in September last year rejected tax authorities’ demand for Rs 22,100 crore in back taxes and penalties relating to British telecom giant Vodafone’s 2007 acquisition of an Indian operator.
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Chief executive officer Simon Thomson urged India to swiftly give effect to the award $1.2 billion in damages plus cost and interest to reassure global investors in the company and to uphold India’s business climate
Moved Singapore HC against Vodafone arbitration award: Anurag Thakur tells LS
To a question on whether the total retrospective tax has to be paid by the government to Vodafone and Cairn, Thakur said, The details terms of the award are under examination by the government
PTI | February 8, 2021 | Updated 20:49 IST
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India has challenged in the Singapore High Court an international arbitration tribunal s verdict that overturned its demand for Rs 22,100 crore in back taxes from Vodafone Group Plc, and the order passed in Cairn Group s case is under consideration of the government, Parliament was informed on Monday.
An international arbitration court had in September last year rejected tax authorities demand for Rs 22,100 crore in back taxes and penalties relating to British telecom giant Vodafone s 2007 acquisition of an Indian operator.