Court rules that Vodafone is not liable for USD2.2bn Indian tax bill

The Associated Press writes that India’s highest court has ruled that UK-based Vodafone Group is not liable to pay up to USD2.2 billion in back taxes and penalties. A lawyer for the British group, Harish Salve, is quoted as saying that the court has published a ‘concurring judgment’ on the matter, and ordered that the deposit on its tax bill be refunded. The ruling in favour of Vodafone will no doubt be a relief to other international investors in India which had feared exposure to a new set of tax costs if Vodafone had failed in its case

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OVETEL Court rules that Vodafone is not liable for USD2.2bn Indian tax bill