Vodafone has confirmed the Indian government has responded to its request for negotiations regarding the renewed $2.5 billion tax demand made by the authorities this month.
HM Revenue & Customs (HMRC) cannot conduct discovery assessments of tax avoidance schemes revealed under the disclosure of tax avoidance schemes (DOTAS) rules once the enquiry window has closed, the UK’s Upper Tribunal has ruled.
Concerns of Indian taxpayers and advisers are growing after PwC confirmed it has been pulled in for questioning by the Indian Income Tax Department in connection with its investigation of Nokia.
Switzerland's oldest private bank, Wegelin, has become the first foreign financial institution (FFI) to plead guilty in a US court for helping Americans to evade tax. Advisers say once the US introduces the passthru payment rule under the foreign account tax compliance act (FATCA), it will bring almost all FFIs within its reach.
UK telecommunications multinational Vodafone has announced that Indian tax authorities are still chasing it for $2.5 billion in withholding tax from its 2007 Hutchison Essar acquisition, despite the Indian Supreme Court deciding the issue in favour of the taxpayer last January.
Hong Kong’s Court of Appeal has clarified whether a payment received by a taxpayer should be categorised as capital or revenue in its judgment on the Aviation Fuel Supply Company (AFSC) case.
