Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  London Stock Exchange  >  Vodafone Group plc    VOD

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Vodafone Group plc : India May Waive Penalties On Past Vodafone-Type Deals - Report

05/03/2012 | 01:22am US/Eastern

India is considering waiving penalties on all past cross-border deals that would come under the scanner of tax authorities once parliament clears a proposal to retroactively tax such transactions, the Economic Times reported Thursday.

Citing an official familiar with the matter, the report said the penalty waiver may pare down Vodafone Group PLC's (VOD.LN) arrears to the government from a 2007 purchase of a telecommunication venture in India to INR79 billion from INR200 billion.

According to the report, Vodafone's total arrears include INR79 billion as tax and an equal amount as penalty for failure to deduct tax at source in 2007. The remaining is the interest on delayed payment of tax, it said.

The plan to waive penalties is part of the government's efforts to pacify foreign investors spooked by recent tax proposals, the report said.

Newspaper website: http://www.economictimes.com

-By Bangalore Bureau; Dow Jones Newswires; djn.in@dowjones.com

React to this article
Latest news on VODAFONE GROUP PLC
06:46a VODAFONE : UK’s Corporate Sustainability Newsletter, August 2015
06:06a VODAFONE : 4g now available in more destinations across the world
08/01 VODAFONE : Keep abreast of road closures
07/31 VODAFONE : A uk first makes topping up even easier for vodafone uk payg customer..
07/31 Small Cell Summit Award
07/31 VODAFONE : Regulators aplenty but consumers still left hanging for resolution
07/30 VODAFONE : Goodspeed mobile Wi-Fi adds 12 new countries to its roaming-free zone
07/29 VODAFONE : Retail M2M adoption gains traction
07/29 VODAFONE : European leadership structure changes
07/28 VODAFONE : Britain's Vodafone plans to lay off 1,300 employees in Spain
Advertisement
Income Statement Evolution
More Financials