Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

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
0
05/08/2012 | 12:34pm CET

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; [email protected] 
 

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on VODAFONE GROUP PLC
09:11p VODAFONE : Do businesses get a fair deal on mobile?
11/16 FORTHNET S A : attracts four potential buyers
11/16 VODAFONE : ATC open for more mobile tower acquisition opportunity
11/16 VODAFONE : Conclusion of share buy-back programme
11/16 VODAFONE : Engineer of Air India Caught While Smuggling the Gold Bars
11/16 VODAFONE : CEO says cybersecurity risk is real and increasing
11/16 Iliad posts higher quarterly sales as it prepares Italian launch
11/15 Vodafone bets on customer data to avoid India-style price war in Italy
11/15 VODAFONE : declares Rs 509 and Rs 458 plan, know features
11/15 SUPER CHEAP SIM ONLY DEAL : 5GB data and 500 mins for just £6.50 per month
More news
Financials (€)
Sales 2018 46 193 M
EBIT 2018 4 341 M
Net income 2018 1 915 M
Debt 2018 31 784 M
Yield 2018 5,66%
P/E ratio 2018 33,30
P/E ratio 2019 25,61
EV / Sales 2018 2,16x
EV / Sales 2019 2,12x
Capitalization 68 052 M
Technical analysis trends VODAFONE GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
 
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 2,78 €
Spread / Average Target 8,6%
EPS Revisions
Managers
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
Samuel Esson Jonah Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
VODAFONE GROUP PLC80 350
AT&T-20.50%211 918
CHINA MOBILE LTD.-4.76%204 552
NTT DOCOMO INC5.19%96 889
SOFTBANK GROUP CORP23.03%93 301
VODAFONE GROUP14.31%80 350