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Indian Court Rules On Vodafone Transfer Pricing Allegations

by Mary Swire, Tax-News.com, Hong Kong

03 February 2014


Vodafone has won a temporary reprieve in one of its battles with the Indian tax authorities, after the Bombay High Court stayed a INR30bn (USD478.1m) demand.

The Income Tax Department has been instructed to postpone any further action against the telecoms company until March 7. It has accused Vodafone India Services of undervaluing shares transferred to its parent company in 2010-11, and issued a show cause notice earlier this month.

Vodafone challenged the action, petitioning the Bombay High Court, which is also charged with reviewing a separate, INR35bn tax dispute. The latter involves a share transfer between Vodafone India and Vodafone Teleservices Mauritius in 2007-08, stayed by the Income Tax Appellate Tribunal for six months.

Vodafone has been ordered to pay an initial deposit of INR2bn, but the Tax Department has disputed the decision, and called for the payment of a higher sum.

The bench had been anticipated to hear the case on January 30, but will now do so on February 6.

TAGS: compliance | tax | tax compliance | India | Mauritius | tax avoidance | tax planning | transfer pricing | telecoms | services | Tax | Tax Evasion

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