Voda ready to pay up demand provided Revenue waives off interest and penalty

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Voda ready to pay up demand provided Revenue waives off interest and penalty By TII News Service Sep 21, 2012 , New Delhi
THE UK-based telecom giant Vodafone has shown its willingness to discuss tax related issues with the Government of India and paying tax amounting to Rs 8,000 crore, provided the interest and penalty are waived. Vodafone non-executive Chairman Analjit Singh yesterday said that "we have made our public position very clear that Vodafone is completely ready to discuss the matter. Vodafone is not a company. (that is) confrontationist (or) controversey”. The Income Tax Department had raised a Rs 11,218 crore tax demand (including Rs 7,900 crore tax demand and the remaining interest) from Vodafone for its acquisition of Hutchison stake in Hutchison-Essar in 2007 through a deal in Cayman islands.

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