Category: Hutchison Whampoa

What effect will Vodafone tax dispute have on global investors?

Free-market advocates say retrospective tax claim on the British telecom major sends a negative message to global investors. It seems to be a weak argument Like all tax disputes, the one that involves Vodafone and the government is quite a tangled one. The company has been absolved of tax liability...

Vodafone India readies for IPO

NEW DELHI: The Vodafone Group has started “preparatory work” for an initial public offering of its Indian unit, although no dates have been set yet, the British telecom company’s CEO said, expressing optimism about the emergence of a new India. Vodafone CEO Vittorio Colao, however, argued against the government’s proposal...

Transfer pricing case: Vodafone gets relief from Bombay HC

The court overruled the order of Income Tax Appellate Tribunal issued last year suggesting that the income tax dept has jurisdiction in this dispute Mumbai: The Bombay high court on Thursday ruled in favour of the Indian arm of Vodafone Group Plc. in a Rs.8,500 crore transfer pricing tax dispute....

Finance ministry seeks to end high-profile tax disputes with foreign firms like Cairn India, Royal Dutch Shell

NEW DELHI: The finance ministry, seeking to build on the recent success in pitching India as an attractive destination, is looking at burying for good the remaining high-profile acrimonious tax tangles involving Cairn India and Royal Dutch Shell, which have tarnished the country’s administration. North Block is likely to replicate...

Tax Horror Defying Modi Causes AIG to Shun Cover for India Deals

Prime Minister Narendra Modi needs to offer much more than just his best intentions to clean up India’s whimsical tax regime to help convince insurers. Companies from Allianz SE to American International Group Inc. are avoiding offering tax-liability coverage in India’s cross-border mergers and acquisitions market because of a relatively...

India: Recent Developments Regarding Minimum Alternative Tax

Over the past few months, several foreign portfolio investors registered in India have received notices from the Indian tax authorities demanding payment of Minimum Alternate Tax in respect of transactions which took place over the course of prior assessment years. The Indian Government has indicated that it could raise several...

India $6.4 Billion Back-Tax Claim Fails to Dent Foreign Inflows

As foreign portfolio investors balk at India’s claim of $6.4 billion in back taxes, the finance ministry’s latest demand isn’t damping interest in the nation’s stocks and bonds. Foreigners were net buyers of local equities every day barring one since the finance ministry said April 6 it is well within...

Hong Kong firm financing owners of 3 mobile network had secret tax deal

Hutchison Whampoa had profit of €429.6m but paid just €65,067 tax in Luxembourg A Luxembourg company that provides indirect financial support to 3 Ireland, is among the latest batch of entities found to be availing of secret tax deals in Luxembourg. Hutchison Whampoa Europe Investments Sarl (HWEI) – part of...