Japanese telecom gaint Softbank recorded a loss of $350 million for last nine months of 2016 in the fair value of the Company’s investments in India. The loss comes on top of a $555 million writedown on the value of Softbank’s India portfolio in the six-month period ending September 2016. “With reference to the current markdown, portfolio…
Vodafone Thursday said it will continue the process of international arbitration initiated under the India-Netherlands Bilateral Investment Treaty to resolve the ongoing Rs 20,000-crore tax dispute against India, while a local tax official said the department will continue with its tax demand on the telecom major.
Earlier today, Finance Minister Arun Jailtey disappointed many investors as he retained the retrospective tax amendment implemented in 2012 that most significantly impacted Vodafone that had, just a few days ahead of the amendment, won the challenge against the taxman in Supreme Court.
Jaitley said that the ongoing disputes at various courts and “legal fora” will reach their natural conclusion. Original post at The Economic Times