Vodafone ordered to pay the deposit 344 m £ to tax Indian
The server was unable to process the request due to an internal error. For more information about the error, either turn on IncludeExceptionDetailInFaults (either from ServiceBehaviorAttribute gold from the India's Supreme Court ordered Vodafone to deposit the cash within three weeks and submit bank guarantees for a further 85bn rupees in eight weeks.Vodafone said the deposit would be returned with interest if it wins the hearing, which is scheduled to start on February 24. India's tax authorities are demanding Vodafone pay 112 18bn rupees in back taxes on its 2007 purchase of a 67pc stake in local operator Hutchison Essar. Vodafone said it remained "confident" that there is "no tax liability" is the transaction because it took place in the Cayman Islands via a Vodafone's Dutch subsidiary. It has emerged that the Dutch government is petitioning India on behalf of the mobile group's Dutch business, Vodafone International Holdings.A Vodafone spokesman said: "The Dutch government has been in discussion with Vodafone and we believe it has initiated a formal process under the tax treaty between both the Dutch and Indian governments." Vittorio Coalo, Vodafone's chief executive, has warned that if it takes an "net" approach to the taxation, global investors might reconsider India future investment into the country.
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