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IT Department asks telecom major Vodafone to pay Rs.14,200-crore tax dues | Canindia News

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IT Department asks telecom major Vodafone to pay Rs.14,200-crore tax dues

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CanIndia New Wire Service 0 comments

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New Delhi, Feb.16 (ANI): British telecom major Vodafone on Tuesday confirmed receiving a notice from the I-T department over non-payment of Rs. 14,200 crore in taxes despite the fact that the case is under international arbitration.

“We can confirm that we have received a tax reminder from the Tax Department that also references asset seizures in the event of non-payment. This dispute is currently the subject of international arbitration. The Indian government stated in 2014 that existing tax disputes, including ours, would be resolved through existing judicial process,” a statement from Vodafone said.

The telecom giant also pointed out that the notice has come at a time when Prime Minister Modi is wooing foreign companies to invest in India without fear of regressive taxes in the ongoing Make In India week in Mumbai.

“In a week when Prime Minister Modi is promoting a tax-friendly environment for foreign investors – this seems a complete disconnect between government and the Tax Department,” the statement added. (ANI)

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