On 20 February 2013, Ofcom announced the five winning bidders to deliver 4G services in the UK. After more than 50 rounds of bidding, Everything
This past January, the Supreme Court in India ruled in Vodafone International Holdings B.V v. Union of India,Civil Appeal No. 733 of 2012 (arising from S.L.P. (C) No. 26529 of 2010) that the sale of stock of a company that was non-resident in India to another non-resident company was not subject to income tax in India.
Pending a final decision on Vodafone’s appeal against a government directive that holds Vodafone liable for US$2.5 billion in taxes and interest accruing from the company’s 2007 acquisition of Hutchison Essar, the Supreme Court of India ordered Vodafone on Monday to submit a deposit of $554.1 million within three weeks as well as bank guarantees within eight weeks that would cover the outstanding portion of the government’s tax claim.
British wireless giant Vodafone moved forward in its quest to dispose of its minority telecom assets with an agreement on Tuesday to sell its 3.2 stake in China Mobile (CM) to a consortium of banks led by Goldman Sachs, Morgan Stanley and UBS for US$6.6 billion.
India's 2009 Finance Act included a clause authorizing the Indian Government to enter into tax treaties with non-sovereign territories - such as Hong Kong or the Cayman Islands.
Vodafone has submitted its final annexure to its original response to tax authorities in India that are holding the British wireless giant liable for a tax bill of U.S. $2 billion that stems from Vodafone’s $11.2 billion acquisition of Hutchison Essar.
This article looks at recent tax changes and the impact these may have on ownership of IP through offshore vehicles.
The Court of Appeal has recently found in favour of the Revenue in the controversial case of Vodafone 2 v HMRC.
Vodafone is facing a hefty tax bill on its acquisition of a majority stake in Indian wireless carrier Hutchison Essar after the Mumbai High Court decided last week to uphold US $2 billion in capital gains taxes assessed on that transaction by the Indian Income Tax Department.
Since HM Treasury launched a consultation on reforming the United Kingdom’s regime for the taxation of companies’ foreign profits 13 months ago, the subject of taxation generally has become a political hot potato, with the Government forced rather hurriedly to revise a number of proposed reforms to the tax system amid a shower of hostile headlines.