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

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Vodafone Group plc    VOD   GB00B16GWD56

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/03/2012 | 07:22am CEST

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

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on VODAFONE GROUP PLC
05/27 VODAFONE : Publication of a Prospectus
05/26 VODAFONE : recognises top retail staff performers
05/25 VODAFONE : Kenyan Talent Stands a Chance to Perform At Capital Summertime Ball i..
05/25 VODAFONE : *deutsche bank raises vodafone price target to 300 (295) pence - 'buy..
05/24 VODAFONE : raises number of clients to 3.42m in Q1
05/24 VODAFONE : Bryneglwys and moylegrove latest wales communities to receive mobile ..
05/24 SPEEDCAST : bmobile-vodafone selects SpeedCast to enhance mobile services to the..
05/23 THE VODAFONE UNITY CUP MATCH : A stroke of inspiration
05/23DJPAOLO BERTOLUZZO : Vodafone Group Chief Commercial Operations Officer Bertoluzzo..
05/23 VODAFONE GROUP : Executive committee change
Advertisement
Income Statement Evolution
More Financials