Vodafone appeals to Supreme Court in USD2 billion tax case

14 Jan 2009

UK mobile group Vodafone has appealed to India’s Supreme Court in a bid to halt the government’s plans to impose a USD2 billion tax bill on it. In December 2008 a Bombay High Court dismissed a petition by Vodafone seeking exemption from the charges. The appeal is expected to be heard between 19 January and 23 January. The USD2 billion bill stems from Vodafone’s purchase of a 67% stake in cellco Hutchison Essar (no Vodafone Essar), which it acquired in May 2007; following the purchase it was informed it was liable for capital gains tax as most of the assets its purchased were in India.

India, Vodafone Group, Vodafone India