Finance ministry prioritising resolution of tax disputes: Telecom minister

The finance ministry has prioritised resolution of tax disputes involving telecoms companies, telecoms minister Ravi Shankar Prasad said on Tuesday.

Vodafone Group PLC became India's largest overseas corporate investor when it acquired Hutchison Whampoa's Indian mobile assets in 2007 as part of its strategy of chasing growth in emerging markets.

Indian authorities argued that the transaction was liable to be taxed in India. Vodafone rejected the claim, saying that even if tax was due, it should be paid for by the seller rather than the buyer. The $2.2 billion standoff has played out in courts across the country ever since.

EDITORIAL OF THE DAY

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Urs Schoettli

Look, who's blowing his own Trump(et)

Traditionally, major political events in the United States are followed ...

Zehra Naqvi

Deliciously desi

What’s the best way to spend a chilled-out weekend all ...

Bubbles Sabharwal

Good or bad, say thanks to the universe

It is true, life is richer than fiction. If we ...