Vodafone Tax Case:government To Collect Rs. 20,000 Crore As Talks Fail

[cherlapalli_jailer]

 The Centre has decided to withdraw its conciliation proposal to telecom giant Vodafone over a Rs. 20,000- crore tax dispute. This means that the tax department will now move to collect the dues from the company.

The Ministry of Finance has floated a Cabinet note seeking to withdraw the conciliation process with Vodafone International Holdings BV, sources said.

The Cabinet had in June last year approved the ministry's proposal to go in for conciliation with Vodafone to resolve the capital gains tax dispute related to its acquisition of Hutchison Whampoa's stake in Hutchison Essar in 2007.

Sources said talks collapsed because the company dilly-dallied on fine print. Vodafone, they said, wanted to club a Rs. 3,700 crore transfer-pricing case of Vodafone India Services with the capital gains tax issue, a demand that the Finance Ministry did not accept.

While the basic tax demand for the 2007 acquisition is Rs. 7,990 crore, the outstanding dues, including a penalty and accrued interest, make it a Rs. 20,000 crore bill.

The revenue department, sources said, will now move to recover the entire amount.

The I-T department had kept its tax notice to Vodafone in abeyance following the Cabinet decision to resolve the tax dispute through non-binding conciliation talks.

The Cabinet is now likely to take up the case soon again as the law ministry has concurred with the Finance Ministry's proposal to withdraw from conciliation.

"The I-T department may proceed as per the provisions of the Income Tax Act to collect the outstanding demand from the company," the law ministry said in its comment on the new Cabinet note.

Vodafone declined to comment on the issue.

[dkc]

Vodafone maree athi thelivi pradarshisthunnaru.

 

Hutchison sannaga jaarukunnadu. Its a clear case of defrauding the exchequer.

[cherlapalli_jailer]

Vodafone maree athi thelivi pradarshisthunnaru.

 

Hutchison sannaga jaarukunnadu. Its a clear case of defrauding the exchequer.

Ee cong vallu chaala chesaru kani dobbale

 

it is very clear .they have to pay

 

Kaani Cong D nakodukulu 2000Cr kosam trying

[dkc]

Ee cong vallu chaala chesaru kani dobbale

 

it is very clear .they have to pay

 

Kaani Cong D nakodukulu 2000Cr kosam trying

 

capital gains eggotte lawful ways chaala unnayi india lo.

 

but Hutchison chesindi emi baale. Aithe honest ga capital gains eggottadaaniki multiple holding company lu run chese vallantha pichollana.

 

Their argument is so silly. Company shares ammaledhanta, control maatrame ammaranta. haha..

[duvva_abbulu]

Collect chesedi goverment kada.. malli aa kodukule kada tinedi.. madhyalo manam anandapadi em labham.. 

[dkc]

Collect chesedi goverment kada.. malli aa kodukule kada tinedi.. madhyalo manam anandapadi em labham.. 

 

ippudu corruption alaa jaragatla brother. resource allocation lo jaruguthundi.

 

tax dabbulu touch cheyyatle. so tax eggodithe, public ke nashtam. its good they are taking this case forward.