According to Bloomberg reports, Government in India has replied positively to a letter from Vodafone Group Plc (VOD: Quote,VOD.L) seeking settlement of the tax issue. The Government is ready for talks with the firm, reports said.
Last week, Vodafone Group said it has received another reminder notice by Indian tax officials related to the payment of a $2 billion tax bill on its the 2007 acquisition of interests in domestic mobile operator Hutchison Essar Ltd., the Indian operations of Hong Kong-based Hutchison Whampoa Ltd. (HUWHF, HUWHY). The taxes amount to nearly $2.2 billion.
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by RTT Staff Writer
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