End to Vodafone's tax dispute with India seen near: FT

LONDON Wed Jan 30, 2013 4:24am IST

A vendor walks past closed shops displaying an advertisement for Vodafone in Jammu May 22, 2012. REUTERS/Mukesh Gupta/Files

A vendor walks past closed shops displaying an advertisement for Vodafone in Jammu May 22, 2012.

Credit: Reuters/Mukesh Gupta/Files

Related Topics

Stocks

   

LONDON (Reuters) - Finance minister, Palaniappan Chidambaram, said he is confident that a $2.6 billion tax dispute with Vodafone (VOD.L) would be settled, telling the Financial Times that a third round of talks will be held this week.

"Vodafone has formally written to the government offering to engage senior government officials to find a way out of the problem," he said in an interview with the FT.

"I'm confident we will resolve <the Vodafone> issue," he told the newspaper.

Chidambaram said he was seeking to resolve the outstanding tax matter within the month.

Vodafone declined to comment on the FT report.

An unnamed figure close to the company told the FT that the finance minister was playing up the possibility of a deal.

On January 14, India's finance minister announced they would delay by two years implementation of controversial rules on tax avoidance to 2016 seen as a move partly designed to help solve the dispute with Vodafone.

(Reporting By Costas Pitas; Editing by Leslie Gevirtz)

FILED UNDER:
  • Most Popular
  • Most Shared

Pending Reform

REUTERS SHOWCASE

Power Theft

Power Theft

India to invest $4 billion to tackle power theft  Full Article 

Debt Funds

Debt Funds

India monitors foreign flows into debt funds, may tighten rules  Full Article 

Bulgari Back in India

Bulgari Back in India

CEO: we shouldn’t have left India so we’re back  Full Article 

 Hindu "Modi-fication"

Hindu "Modi-fication"

Fears grow about Hindu "Modi-fication" of education  Full Article 

Weak Credit

Weak Credit

Hard to hit tax revenue target, credit weak - Jaitley  Full Article 

China Rate Cut

China Rate Cut

China surprises with interest rate cut to spur growth  Full Article 

Gold Imports

Gold Imports

RBI cautious on response to gold import surge  Full Article 

Economic Corridor

Economic Corridor

China commits $45.6 billion for economic corridor with Pakistan  Full Article 

Overseas Funds

Overseas Funds

RBI says overseas borrowed funds can be parked with banks in India  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage