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More on taxes

Connected to the earlier post on taxes, is this one about Vodafone India getting served a USD 600 million retroactive tax bill.

While Vodafone maintains no tax is due on the 2007 acquisition, it has told the government it is willing to explore the possibility of a “mutually acceptable solution”.

Vodafone further points it has become one of India’s largest investors, spending more than £12.8 billion in building its business in the country since 2007.

The operator is also one of India’s largest taxpayers.

In its country-by-country breakdown covering the financial year ended 31 March 2013, Vodafone said its direct and indirect contributions to Indian public finances exceeded £1.7 billion.

So it appears that Vodafone pays more taxes worldwide than it invests. But in India, it invests more than it gives the government. The government is trying to correct this with a retroactive tax, I guess?

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