Vodafone says received transfer pricing order in India

The order is linked to a transfer pricing dispute in the fiscal ended March 2008, which Vodafone has challenged
Comment E-mail Print Share
First Published: Thu, Feb 07 2013. 06 21 PM IST
Transfer pricing is the value at which companies trade products, services or assets including shares between units, mostly the parent company, in different countries. Photo: Ashesh Shah/Mint
Transfer pricing is the value at which companies trade products, services or assets including shares between units, mostly the parent company, in different countries. Photo: Ashesh Shah/Mint
Vodafone group Plc said on Thursday it has received a transfer pricing order in India over the issue of shares by its unit Vodafone India Services Pvt. Ltd. (VISPL).
The order is linked to a transfer pricing dispute in the fiscal ended March 2008, which Vodafone has challenged before the dispute resolution panel of the Indian income-tax department, it said in a statement.
“As this latest order relates to a share subscription, and share subscriptions are not covered by transfer pricing rules either in India or internationally, we will be challenging the order as it has no basis in law,” it said.
Transfer pricing is the value at which companies trade products, services or assets including shares between units, mostly the parent company, in different countries.
Vodafone, the largest corporate investor in India, has repeatedly clashed with Indian authorities over taxes since it bought Hutchison Whampoa’s local mobile business in 2007.
Comment E-mail Print Share
First Published: Thu, Feb 07 2013. 06 21 PM IST
blog comments powered by Disqus
  • Wed, Oct 22 2014. 09 49 PM
  • Wed, Oct 15 2014. 11 40 PM
Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved