Vodafone continues fight with India

International Tax Review is part of Legal Benchmarking Limited, 4 Bouverie Street, London, EC4Y 8AX

Copyright © Legal Benchmarking Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Vodafone continues fight with India

vodafone.jpg

Vodafone is continuing its fight with India and has threatened to take the country’s government to international arbitration.

Despite winning its long-running $2.5 billion dispute with the authorities earlier this year, Vodafone’s Dutch subsidiary indicated that it may seek arbitration under a bilateral treaty between India and the Netherlands.

The dispute relates to March’s Finance Bill which proposed retrospective legislation to tax Vodafone-style transactions dating back to 1962.

The telecommunications company, India’s largest foreign investor, claims that the proposal violates legal protections and harms international investors.

“Vodafone has asked the Indian government to abandon or suitably to amend the retrospective aspects of the proposed legislation as Vodafone would prefer to reach an amicable solution to this matter,” read a group statement.

FURTHER READING:

India to target Vodafone-style transactions going back 50 years

TEI explains objections to Indian retrospective amendment

Everything you need to know about the Vodafone ruling

How you can avoid becoming the next Vodafone

more across site & bottom lb ros

More from across our site

US partner Matthew Chen was named as potentially the first overseas PwC staffer implicated in the tax leaks scandal, in a dramatic week for the ‘big four’ firm
PwC alleged it has suffered identifiable loss and damage arising out of a former partner's unauthorised use of confidential information; in other news, Forvis Mazars unveiled its next UK CEO
Luxembourg saw the highest increase in tax-to-GDP ratio out of OECD countries in 2023, according to the organisation’s new Revenue Statistics report
Ryan’s VAT practice leader for Europe tells ITR about promoting kindness, playing the violincello and why tax being boring is a ‘ridiculous’ idea
Technology is on the way to relieve tax advisers tired by onerous pillar two preparations, says Russell Gammon of Tax Systems
A high number of granted APAs demonstrates the Italian tax authorities' commitment to resolving TP issues proactively, experts say
Malta risks ceding tax revenues to jurisdictions that adopt the global minimum tax sooner, the IMF said
The UK and what has been dubbed its ‘second empire’ have been found to be responsible for 26% of all countries’ tax losses by the Tax Justice Network
Ireland offers more than just its competitive corporate tax environment but a reduction in the US rate under a Trump administration could affect the country, experts tell ITR
The ‘big four’ firm was originally prohibited from tendering for government work until December 1 due to its tax leaks scandal, but ongoing investigations into the matter have seen the date extended
Gift this article