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

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

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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; [email protected]

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Financials (€)
Sales 2017 53 515 M
EBIT 2017 2 930 M
Net income 2017 -1 409 M
Debt 2017 32 892 M
Yield 2017 6,15%
P/E ratio 2017 -
P/E ratio 2018 31,99
EV / Sales 2017 1,80x
EV / Sales 2018 1,83x
Capitalization 63 253 M
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Average target price 2,71 €
Spread / Average Target 14%
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NameTitle
Vittorio Amedeo Colao Chief Executive Officer & Executive Director
Gerard Johannes Kleisterlee Chairman
Nicholas Jonathan Read Group Chief Financial Officer & Executive Director
Johan Wibergh Group Technology Officer
Philip Edward Yea Senior Independent Non-Executive Director
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