India court rejects $2.5 billion tax claim against Vodafone
NEW DELHI– India’s Supreme Court rejected Friday a $2.5 billion tax bill slapped on British phone giant Vodafone by Indian authorities over its purchase of a local operator.
“Indian tax authorities had no jurisdiction to tax Vodafone,” the Supreme Court ruled.
Indian authorities slapped a $2.5 billion tax bill on Vodafone and were seeking an equivalent sum in penalties over the company’s $11.1 billion purchase in 2007 of a majority stake in Hong Kong-based Hutchison Whampoa’s Indian mobile unit.
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