Latest News

  • Home
  • National
  • Arbitration panel to hear Vodafone challenge to Rs 22,100 cr tax in February 2019
Arbitration panel to hear Vodafone challenge to Rs 22,100 cr tax in February 2019
Tuesday, May 22, 2018 IST
Arbitration panel to hear Vodafone challenge to Rs 22,100 cr tax in February 2019

The tribunal, headed by Sir Franklin Berman, will hear the government's objection to tax matters being covered under the Netherlands-India Bilateral Investment Treaty, which was used by Vodafone to trigger an arbitration over the tax demand, a senior official with direct knowledge of the development said.
 

 
 

An international arbitration tribunal will in February next year begin hearing in British telecom giant Vodafone's challenge to India using a retrospective legislation to seek Rs 22,100 crore in taxes.
 
The tribunal, headed by Sir Franklin Berman, will hear the government's objection to tax matters being covered under the Netherlands-India Bilateral Investment Treaty, which was used by Vodafone to trigger an arbitration over the tax demand, a senior official with direct knowledge of the development said.
 
India has also challenged tribunal's jurisdiction to decide on such matters, he said.
 
While Vodafone is supposed to file its response to the government objection by July, India will respond to this by December, he said, adding that thereafter the tribunal will begin hearing in February 2019.
 
Vodafone has challenged India using a 2012 legislation that gave it powers to retrospective tax deals like Vodafone's USD 11-billion acquisition of 67 per cent stake in the mobile phone business owned by Hutchison Whampoa in 2007.
 
It has challenged the demand of Rs 7,990 crore in capital gains taxes (Rs 22,100 crore after including interest and penalty) under the treaty.
 
Tax authorities had in September 2007 served notice to Vodafone International Holdings BV for its alleged failure to deduct withholding tax from consideration paid to the Hutchison Telecommunications International Ltd.
 
Vodafone challenged this in the Supreme Court, which in January 2012 set it aside saying the transaction was not taxable in India and so the company had no obligation to withhold tax.
 

 
 
 
 
 

Related Topics

 
 
 

Trending News & Articles

 Article
Here is the full list of 827 porn websites banned by the DoT

While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content. ...

Recently posted . 61K views . 1 min read
 

 Article
Class XII Boys Raped 16-Year-old in Dehradun School After Watching Porn on Phone: Police

The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...

Recently posted . 8K views . 1 min read
 

 Article
Sept 27,2001 Rahul Gandhi and his girl friend Veronique,was arrested in Logan airport in Boston

Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million. Rahul and his girl friend was th...

Recently posted . 7K views . 7 min read
 

 Article
TOP 10 GYM EQUIPMENT BRANDS IN INDIA 2017

True – Tr...

Recently posted . 6K views . 83 min read
 

 
 

More in National

 Article
“Dharma” is our duty to others, “Kama” is our duty to ourselves

Human beings prefer to take sides rather than try and understand the deeper causes of tragedy. There is no point speculating about the ‘whodunnit’ -th...

Recently posted. 1K views . 3 min read
 

 Article
SAPTA MATRIKA- 7 MOTHERLY INCARNATION OF GODDESS SHAKTI

The Sapta Matrika are affiliated to Mother Shakti and Skanda, the warrior god. ‘Matrikas’ means mother and ‘Matris’ indicate a group of moth...

Recently posted. 3K views . 4 min read
 

 Article
Shiva, Shravana, Amarnath And The Ice Lingam

The whole month of shravana is regarded as being special to Shiva. The ice lingam increases and decreases in size with the waning and waxing of the moon.  Full...

Recently posted. 1K views . 3 min read
 

 Reviews
Top 10 financial services companies in India



Recently posted . 1K views . 31 min read
 

 Article
क्या आप 1500 वर्ष पुराने सोमनाथ मंदिर के प्रांगण में खड़े बाणस्तम्भ की विलक्षणता के विषय मे जानते हैं?

वैसे भी सोमनाथ मंदिर का इतिहास बड़ा ही विलक्षण और गौरवशाली रहा है। 12 ज्योतिर्लिंगों में से पहला ज्योतिर्लिंग है सोमनाथ। एक वैभवशाली सुंदर शिवलिंग। इतना समृध्द कि ...

Recently posted. 246 views . 2 min read
 

 Article
How to fight post-festive woes

Festival time is when everybody gets busy shopping, eating the best of sweets and dancing till the wee hours. But dealing with the hangover of good times can be tri...

Recently posted. 959 views . 1 min read
 

 
 
 

   Prashnavali

  Thought of the Day

Don’t aim for success if you want it; just do what you love and believe in, and it will come naturally.
David Frost

Be the first one to comment on this story

Close
Post Comment
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST
Shibu Chandran
2 hours ago

Serving political interests in another person's illness is the lowest form of human value. A 70+ y old lady has cancer.

November 28, 2016 05:00 IST


ads
Back To Top