Tax case: Vodafone officials to meet Finance Secretary
Representatives of Vodafone are likely to meet senior officials of the Finance Ministry. They would be meeting Finance Secretary Arvind Mayaram and Revenue Secretary Rajiv Takru, said sources.
The meeting would be taking place in the backdrop of the British telecom major has slapped an arbitration notice on India in a tax case.
Vodafone in a letter to the Revenue Department dated March 13 had stated they saw no merit in reviewing the matter of conciliation in the Rs 20,000-crore capital gains tax dispute case after receipt of the decision of the ITAT.
It had further said that the only body capable of resolving the issue would be an arbitration panel constituted according to the Bilateral Investment Promotion and Protection Agreement (BIPA).
Amendment to Income-tax Act with retrospective effect made by the UPA government in 2012 to protect revenue had evoked sharp reactions from domestic as well as global investors.
On the Vodafone notice, Law Minister Ravi Shankar Prasad had recently said: “We will look into it. Our ( BJP) manifesto has been very specific that we want a stable regime where those who invest in India may not have to face uncertainty.”
Source: economictimes
