Government stated on Friday that it’s going to research a global arbitration tribunal’s ruling in favour of Vodafone Group Plc, ending one of the crucial high-profile disputes within the nation involving a $2 billion tax declare.
An worldwide arbitration tribunal in The Hague dominated that authorities’s imposition of a tax legal responsibility on Vodafone, in addition to curiosity and penalties, had been in a breach of an funding treaty settlement between India and the Netherlands.
It additionally directed India to pay 4.three million kilos to the corporate as compensation for its authorized prices.
“The government will be studying the award and all its aspects carefully in consultation with our counsels,” finance ministry stated in an announcement, including that it’s going to take into account all choices, together with authorized treatments.
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