Vodafone mulls action after 'unjust' India tax proposal

Mar 30, 2012 |

Mumbai

Reuters

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Vodafone Group Plc is considering a number of courses of action following the government's proposal to retrospectively tax overseas transactions involving local assets, the company said on Friday, calling the proposal 'grossly unjust'.

"We are urgently considering a number of courses of action, both in India and internationally, in consultation with our advisers and we continue to discuss these issues with a wide range of stakeholders both in India and internationally," the company said.

Vodafone won a five-year legal battle against the Indian tax authorities in January as the Supreme Court dismissed a $2.2 billion tax demand raised over the British company's acquisition of Indian mobile assets in 2007.

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