Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin, Germany April 8, 2019. REUTERS/Fabrizio BenschNEW DELHI, Aug 5 (Reuters) – The Indian government on Thursday proposed to refund companies in disputes over retrospective tax, including telecoms operator Vodofone.
Tax raised for the indirect transfer of Indian assets before May 2012 would be “nullified on fulfillment of specified conditions” such as the withdrawal of pending litigation and an undertaking that no damages claims would be filed, a government statement said.
An international arbitration tribunal in The Hague last year ruled that Indias imposition of a tax liability on Vodafone, as well as interest and penalties, breached of an investment treaty agreement between India and the Netherlands.
Reporting by Manoj Kumar and Aftab Ahmed
Editing by David Goodman
Our Standards: The Thomson Reuters Trust Principles.read more
India proposes refunds in retrospective tax disputes – Reuters
