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Vodafone Given $2.5Bn Indian Tax Bill Deadline

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http://www.bbc.co.uk/news/business-11606192

Indian tax authorities have given Vodafone 30 days to pay a 112bn rupee ($2.5bn, £1.6bn) tax bill, as part of an ongoing tax dispute.

The formal demand relates to the mobile phone company's 2007 purchase of the Indian telephone assets of Hong Kong conglomerate Hutchison Whampoa.

Vodafone will appeal against the tax at the Indian supreme court on Monday.

The firm says the $11bn transaction was exempt from tax because it took place between two offshore entities.

But the Indian tax department now says that Vodafone must pay the capital gains tax, and has handed the company its first formal tax demand.

"Vodafone strongly disagrees with the tax calculation," the mobile operator said in a statement.

"The tax authority is attempting to interpret Indian law as it has never been interpreted for the past 50 years, and this interpretation also goes against internationally recognised tax norms."

Wow that's some tax bill.

Would vodaphone be able to offset paying Indian taxes against taxes in other countries?

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Now we just need every other country to do the same.

Our company like most operates from a tax haven (Cayman Islands I think).

I'm usually as capitalist as they come, but it bothers me that we are such a big company and yet we pay virtually nothing in tax. In my mind it offers an unfair/uncompetitive advantage over smaller/local companies that are not in a position to avoid it.

Edited by libspero

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I think everyone should avoid paying any tax that they feel would be wasted. I heartily support healthcare for British people and social security for people UNABLE to work. Street lights. Prisons. Police. The trouble is that the dozey ******* we vote in waste our hard earned money on such shite. I would pay MORE tax happily if it was spent well but they really NEEDED more. They could cut another 50% and it would hurt like he'll for a good few years. Eventually though we would be better off. God bless everyone and if you believe there's a god then you need to think more

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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