REUTERS: Vodafone Group has received a final tax demand of about $604 million from Indian authorities, adding to its tax disputes in the country since it bought Hutchison Whampoa's mobile business there in 2007.
The British mobile operator would appeal the order soon, it said in a statement on Thursday.
Last year, Vodafone filed a petition in a local court in a so-called transfer pricing dispute after authorities sought to add Rs 8500 crore to the taxable income of a unit, Vodafone India Services, which provided call centre services to some group companies.
In September this year, the Bombay high court extended a stay on a final tax demand order by the authorities.
Transfer pricing is the value at which companies trade products, services or assets between units. "Vodafone maintains that there is no tax payable on this transaction and the company will file an appeal before the tax appeal tribunal as soon as possible," the company said. "Vodafone will continue to strongly defend its position against this order."
via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFrq13rbuvC24hZBlOKlLhKhS7xFQ&url=http://timesofindia.indiatimes.com/business/india-business/Vodafone-gets-604m-tax-demand/articleshow/27669263.cms
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