prpri Vodafone case hearing on 14th June 2010 Vodafone case hearing on 14th June 2010

The UK’s Vodafone, fighting a tax bill in India from its 2007 purchase of Hutchison Whampoa Ltd’s mobile business there, said authorities had set a June 14 hearing to discuss the size of the tax bill.

Vodafone did not say how much the authorities were seeking, but a person with knowledge of the matter said it was about 120 billion rupees ($2.56 billion), which is higher than the $2 billion figure estimated by Indian media.

“Whilst an amount of tax has been suggested by the Tax Authorities, it is important to note that this is not a demand for payment,” a company representative said in a statement on Friday.

“Vodafone remains confident that there is no tax to pay on this transaction,” the statement said, adding that the company was considering its next move.

(US$1=46.86 rupees)

Source: reuters

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