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Vodafone says still believes no tax to pay on Hutch deal

Vodafone says still believes no tax to pay on Hutch deal
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First Published: Fri, Mar 18 2011. 04 48 PM IST
Updated: Fri, Mar 18 2011. 04 48 PM IST
New Delhi: Vodafone on Friday said it continues to believe that it had no tax liability over its 2007 purchase of Hutchison Whampoa Ltd’s mobile business in India.
Vodafone, which has been fighting a $2.5 billion tax bill in India over the deal, said its position had not changed with regard to the tax case.
“Every adviser we have consulted, both during the transaction and since, is in unanimous agreement that no tax liability should arise,” Vodafone said in a statement, which it said was in response to media reports that said the company had hinted at paying the tax.
India’s Supreme Court will hear the tax case on 19 July and Vodafone said it would continue to “defend its position vigorously.”
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First Published: Fri, Mar 18 2011. 04 48 PM IST
More Topics: Vodafone | Hutch Deal | Tax | Essar | Telecim |