New Delhi: Companies such as Cairn Energy Plc and Vodafone Group of the UK will have to indemnify the Indian government against future claims in order to settle their retrospective tax cases, according to rules notified by the government to settle disputes arising from seeking back taxes. The Ministry of Finance on October 1 notified […]
The retrospective taxation, introduced by then Finance Minister Pranab Mukherjee in 2012 as an amendment to the Income Tax Act, proved a costly policy misadventure
Under the deal, the South Korean tech giant will provide its commercial virtualized radio access network (vRAN) solutions and open radio network (O-RAN)-compliant 5G radios to Vodafone UK. The value of the deal was not disclosed.
An international arbitration court had in September last year rejected tax authorities' demand for Rs 22,100 crore in back taxes and penalties relating to British telecom giant Vodafone.
The report comes following a study, across 49 cities, released by private firm OpenSignal in September declaring Bharti Airtel to have the fastest download speed in India.
Last month, an international arbitration court ruled that the Indian government seeking Rs 22,100 crore in taxes from telecom giant Vodafone using retrospective legislation was in "breach of the guarantee of fair and equitable treatment" guaranteed under the bilateral investment protection pact between India and the Netherlands