Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

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

News SummaryMost relevantAll newsSector news 

Vodafone Group plc : India Minister : Vodafone Hasn't Asked To Settle Tax Case

share with twitter share with LinkedIn share with facebook
share via e-mail
05/08/2012 | 12:34pm CEST

U.K. telecom giant Vodafone Group PLC (VOD.LN) hasn't approached the Indian government to seek an out-of-court settlement regarding a $2 billion tax dispute, a federal minister told lawmakers Tuesday.

S.S. Palanimanickam, India's junior minister for finance, was responding to questions from lawmakers on whether Vodafone had asked for a settlement.

Palanimanickam said also that the Indian government hasn't ordered the reopening of cases similar to the Vodafone issue.

"The decision to reopen or not reopen [cases] is taken by the accessing officer on the basis of facts and circumstances of each case. The government has not issued any direction in this regard", he said.

He added that there is a six-year time limit on reopening cases, despite any retrospective amendments.

Indian authorities hit Vodafone with a $2 billion tax demand for its $11.2 billion purchase of Hutchison Whampoa Ltd.'s Indian assets in 2007.

But on Jan. 20 this year, India's Supreme Court agreed with Vodafone's argument that no tax was due as the deal was between two foreign companies -- a Dutch unit of Vodafone and a Cayman Islands-registered unit of Hutchison -- and conducted outside India.

But the government then proposed amending laws which would allow it to tax international transactions retroactively if they involve the transfer of local assets.

The proposal is pending parliament's approval.

  --By Mukesh Jagota and Kenan Machado, Dow Jones Newswires; +91 22 6145 6107; kenan.machado@dowjones.com 

share with twitter share with LinkedIn share with facebook
share via e-mail
07/27 HUAWEI CULTURE : and Vodafone reach 20Gbps for single-user outdoor link at E-Ban..
07/27 VODAFONE : Gets New Chief Executive
07/27 ANCOM BERHAD : Romanian cellcos fined for failure to meet wireless broadband cov..
07/27 VODAFONE : Massive Reshuffle Hits Vodafone
07/27 TALKTALK TELECOM : Overhaul of BT Openreach cannot come soon enough, says watchd..
07/27 VODAFONE : gets new chief executive
07/27 VODAFONE : smart beachwear and luggage show power of internet of things
07/27 VODAFONE : Which mobile network is NOW best for 4G in North Wales?
07/27 VODAFONE QATAR : completes QR1bn network modernisation
07/26 VODAFONE QATAR : shows improvement signs in Q1
More news
Sector news : Wireless Telecommunications Services - NEC
07/27DJSingapore's Sovereign-Wealth Fund Sees Lower Returns Ahead
07/27DJT-Mobile Outpaces Rivals in Second-Quarter Subscriber Gains
07/27DJBHARTI AIRTEL : April-June Net Profit Falls 30.8%
07/27DJComcast Revenue Tops Estimates
07/26DJTIM PARTICIPACOES : Brazil's TIM Participacoes 2Q Profit Drops as Revenue Declin..
More sector news : Wireless Telecommunications Services - NEC
Financials ( GBP)
Sales 2017 44 494 M
EBIT 2017 3 737 M
Net income 2017 1 299 M
Debt 2017 31 838 M
Yield 2017 5,17%
P/E ratio 2017 45,96
P/E ratio 2018 32,19
EV / Sales 2017 2,11x
EV / Sales 2018 2,05x
Capitalization 61 957 M
More Financials
Technical analysis trends VODAFONE GROUP PLC
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 2,51  GBP
Spread / Average Target 7,9%
Consensus details
EPS Revisions
More Estimates Revisions
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
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
AT&T INC.24.27%263 250
CHINA MOBILE LTD.12.34%258 746
NTT DOCOMO INC13.83%105 500
KDDI CORP2.96%80 023
More Results