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Articles tagged with: Essar and Tax
Hutchison Warns Off Possible Indian Tax Liability in Sale to Vodafone
Hutchison Telecom International has accepted that it might have to make some payments in regards to the ongoing tax dispute in India over the sale of its stake in Hutchison essar to Vodafone in May 2007. Although the transaction technically occurred outside India, the government has been suing Vodafone for up to US$2 billion in sales tax that it claims is owed to it. more
Related Tags: hutchison-telecom-international, hutchison, vodafone, vodafone-essar, cgp-investments, hutchison-essar, India
Vodafone Raises Debt for Indian Expansion
Vodafone essar, the company's Indian subsidiary is reported to have sucessfully raised around Rs 10,000 crore (US$2 billion) in a 5-year debt financing for network expansion and the forthcoming 3G license auction. The loan was arranged by the State Bank of India Capital Markets. more
Related Tags: , 3g, ict, vodafone, 3g-license, tim, mumbai, hutchison, vodafone-essar, India
Vodafone Raising Funds for India's 3G Auction
Vodafone essar is reported to be currently trying to raise US$2 billion as a bridging loan to finance its bids in the country's delayed 3G and WiMAX auctions. The current reserve price for the 3G auction is US$412 million to cover all the available circles - although the auction has been delayed as the Finance Ministry is battling to double the reserve to at least US$824 million. more
Related Tags: wimax, vodafone, wall-street-journal, hutchison-telecom, mumbai, hutchison, India
Set-Back for Vodafone in Indian Tax Battle
Vodafone's tax battle with the Indian government has suffered a further set-back when the Supreme Court refused to hear an appeal by the telecoms giant - and ordered that the case be sent back to the tax department for its deliberation as to who should have legal jurisdiction over the case. more
Related Tags: ict, vodafone, supreme-court, gsm, hutchison, cgp-investments, hutchison-essar, India
Vodafone Loses $2 Billion Indian Tax Case
Vodafone has lost a significant tax bill in India after the Bombay High Court upheld a claim by the government for around US$2 billion following its purchase of a majority stake in Hutchison essar. more
Related Tags: vodafone, supreme-court, gsm, hutchison, cgp-investments, India
Vodafone's Indian Tax Penalty Could Reach $4 Billion
Vodafone could face a potential US$4 billion penalty if the company loses the ongoing tax dispute in India. India's government is seeking to claim up to US$2 billion in tax for the company's purchase of a majority stake in Vodafone essar - but could impose a penalty which would more than double the amount being disputed. more
Related Tags: hutchison, vodafone-essar, cgp-investments, India
Vodafone Wins $3.3 Billion Tax Battle
Vodafone has won a huge tax battle with the UK government over its 1999 acquisition of Germany's Mannesmann. The company had set aside £2.5 (US$4.7) billion should it lose the lawsuit, although the company had estimated its liabilities at £1.76 (US$3.3) billion in its 2005 financial accounts. more
Related Tags: eu, hutchison, hutchison-essar, UK
Vodafone, India Government to Finish Arguing Tax Case by Wednesday
MUMBAI -(Dow Jones)- Vodafone International Holdings BV and the Indian government will have to finish arguing their case in the Bombay High Court by Wednesday, a lawyer for Vodafone said Friday. more
Related Tags: hutchison, vodafone-essar, vodafone-group, lawyer, hutchison-essar, India
Vodafone Continues to Argue Tax Case, Early Judgment Unlikely
BANGALORE -(Dow Jones)- Vodafone International Holdings BV Tuesday continued its arguments in the Bombay High Court against the Indian state's move to tax the telecom company on its Hutchison essar Ltd. deal, saying it was being made liable for taxation despite it being the buyer and not the seller in the transaction. more
Related Tags: hutchison, vodafone-essar, lawyer, hutchison-essar, India
Vodafone to Challenge Indian Tax Law Change
Vodafone is expected to seek to challenge a change to India's tax laws which have been applied retrospectively to its US$11.1 billion purchase of a controlling stake in Hutchison essar. Vodafone said in a statement last Friday that it has submitted an amended writ petition challenging the "constitutionality of the retrospective amendment of the changed tax law". more
Related Tags: hutchison, cgp-investments, India