Vodafone officials to Reportedly Meet Finance Secretary on Friday

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Representatives of Vodafone are more likely to meet senior officials of the Finance Ministry tomorrow.

They’d be meeting Finance Secretary Arvin Maya ram and income Secretary Rajiv Thakur, stated sources.

The meeting could be happening in the backdrop of the British telecom major slapping arbitration discover on India in a tax case.

Vodafone in a letter to the revenue department dated March thirteen had mentioned they saw no merit in reviewing the subject of conciliation within the Rs. 20,000 cores capital good points tax dispute case after receipt of the decision of the ITAT.

It had additional stated that the only body able to resolving the issue can be an arbitration panel constituted consistent with the Bilateral funding merchandising and safety agreement (BIPA).

Following the amendment to the tax regulations, the authorities issued a letter to Vodafone world Holdings BV mentioning that the corporate used to be required to pay tax demand of about Rs. 11,217 cores along with passion.

Modification to income Tax Act with retrospective effect made by the UPA govt in 2012 to protect revenue had evoked sharp reactions from domestic in addition to world investors.

On the Vodafone notice, law Minister Ravi Shankar Prasad had lately said: “we will be able to seem to be into it. Our (BJP) manifesto has been very explicit that we wish a steady regime the place folks who invest in India may not must face uncertainty.”

 

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