Vodafone Group Plc said on Friday it had won an international arbitration case against the Indian government, ending one of the most high-profile disputes in the country involving a $2 billion tax claim.An international arbitration tribunal in The Hague ruled that India`s imposition of a tax liability on Vodafone, as well as interest and penalties, were in a breach of an investment treaty agreement between India and the Netherlands, two sources with direct knowledge of the matter said.India had claimed a total of 279 billion rupees ($3.79 billion) including about $2 billion in tax, as well as interest and penalties, one of the sources said.The tribunal, in its ruling, said the government`s demand is in breach of “fair and equitable treatment” and it must cease seeking the dues from Vodafone. It also directed India to pay 4.3 million pounds ($5.47 million) to the company…
Vodafone wins international arbitration against India in Rs 20,000 crore tax case
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by Krupali
- Categories: Latest News
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