India Confident of Settling Vodafone Tax Dispute
Published on: 30th Jan 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
India's Finance Minister P Chidambaram has expressed confidence that the government will find a resolution to its long running USD2.6 billion tax dispute with Vodafone.
He confirmed that the two sides are in talks during an unrelated meeting with global investors - many of whom have expressed concerns about the Indian government's decision to retrospectively change the tax laws.
"I did clarify to them that Vodafone has formally offered to engage with
the government of India in discussions. They had two rounds of discussions with
the officials of government of India.
"I am confident that we will find a resolution to the Vodafone issue so that we can put it behind us and move forward," he told reporters after the meeting.
An investigation by panel of Ministers had recommended that the government either reverse the tax law change or issue a waiver on any liabilities it caused.
The Finance Ministry has already delayed implementing the tax change until the Vodafone issue is resolved.