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Vodafone willing to pay Rs.8,000 crore tax to
government
Thursday September 20, 2012 09:53:10 PM,
IANS
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New Delhi: Britain-based telecom service provider Vodafone Thursday
said it could pay taxes amounting to around Rs.8,000 crore to the
Indian government if the interest and penalty are waived.
"We have made our public position very clear that Vodafone is
completely ready to discuss the matter," Analjit Singh,
non-executive chairman, Vodafone India, told reporters after a
meeting with tax officials here.
"It is an option," he said, referring to payment of taxes.
The Income Tax department has sought over Rs.11,000 crore as tax
and interest from Vodafone for acquiring Hutchison stake in
Hutchison-Essar in 2007.
The Supreme Court, however, struck down the claim.
After the apex court's ruling, the 1961 Income Tax Act was amended
with retrospective effect to bring into tax net such deals.
Finance Minister P. Chidambaram Monday had said the Income Tax
department will take a decision on the Vodafone taxation issue
after the Shome Committee gives its report on General
Anti-Avoidance Rules (GAAR).
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