Vodafone gets International Relief in Retrospective Taxation Case
- On 25th September, 2020, the Permanent Court of Arbitration(PCA) at The Hague (Netherland) ruled in favour of the Vodafone Group in its long pending case against the Indian income tax department’s tax liability demand for Rs 22,100 crore that dates back to a transaction in 2007.
Timeline of the Case
- In May 2007, Vodafone had bought a 67% stake in Hutchison Whampoa for $11 billion. In September 2007, the India government for the first time raised a demand of Rs 7,990 crore in capital gains and withholding tax from Vodafone.
- Government argued that Vodafone should have deducted the tax at source ....
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