Reuters: Financial Services and Real Estate: No direction to taxmen to reopen Vodafone case-India

Reuters: Financial Services and Real Estate Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

No direction to taxmen to reopen Vodafone case-India May 8th 2012, 06:56 NEW DELHI | Tue May 8, 2012 2:56am EDT NEW DELHI May 8 (Reuters) - The Indian government has not given any direction to tax authorities to reopen a tax case against Vodafone or similar cases, the junior finance minister said on Tuesday. "The decision to reopening or not reopening a case ... is taken by the assessing officer on the basis of facts and circumstances of each case. The government has not issued any direction in this regard," S.S. Palanimanickam told lawmakers in a written reply. India has proposed to amend laws retrospectively to tax some already-completed mergers of foreign companies with Indian assets, potentially putting Vodafone back under the taxman's spotlight for more than $2 billion in taxes even after India's Supreme Court ruled the tax office did not have jurisdiction over cross-border deals. Palanimanickam also said Vodafone has not approached the government for an out of court settlement for the tax dispute. New Delhi wants to tax the British telecom company over its 2007 acquisition of Hong Kong-based Hutchison Whampoa's mobile operations in India.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions