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Friday, January 20, 2012

Vodafone not liable for billion-pound tax penalty in India

VodafoneIndia’s Supreme Court has ruled that Vodafone isn’t liable to pay taxes on its acquisition of Hutchison Essar in 2007. The country’s tax authorities had claimed a total of around £2.8 billion was due in taxes and penalties.

This appeal in the Supreme Court followed a High Court defeat for Vodafone in 2010.

The original deal saw Vodafone’s subsidiary in the Netherlands buying a stake in Hutchison from a Cayman Islands company.

Vodafone has issued a short statement that says “Vodafone Group has received the judgment of the Indian Supreme Court. The Court has concluded that Vodafone had no liability to account for withholding tax on its acquisition of interests in Hutchison Essar Limited (now Vodafone India Limited) in 2007.”

New tax laws in India are expected in 2013; these would make similar transactions taxable within the country.

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Opinion Articles

This week at The Fonecast: 14th May 2011

Mark Bridge writes:

There's one tech story that’s dominated the week’s news: Microsoft buying Skype. "Why?" and "Really?" appear to be the top questions; we'll do our best to answer them and provide some more insight in Wednesday's podcast.

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Android and GetJar admit that app stores aren't working

Mark Bridge writes:

The Apple App Store runs in a similar way to many high-street shops. It decides what it'll sell. It decides what it won't sell. It has special offers. It has free gifts. It promotes certain products above others.

Author: The Fonecast
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Peter Fedynsky of voanews.com writes:

The United States is introducing a new public alert system that will deliver warnings to mobile phones in the event of emergency. The system is first being rolled out in New York and Washington and will operate nationwide by April 2012.

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BBC Apprentice shows us what's wrong with Mobile Apps

James Rosewell writes:

Tonight's BBC Apprentice was about building a Mobile Application. Two teams of supposedly bright entrepreneurial talent were tasked with creating a Mobile App in 2 days. The App with the highest number of downloads 24 hours after being launched would win this stage of the competition. App stores didn't include Apple, but did include Nokia, Android and Blackberry.

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This week at The Fonecast: 7th May 2011

Mark Bridge writes:

It's time for another round-up of the week's mobile industry news.

Two of the recurring themes we've encountered in the last few months are legal action and partnerships. This week's legal story involves a conflict between Huawei and ZTE, while the partnership news sees RIM working with Microsoft. Yes, you may well raise your eyebrows. It seems Nokia-loving Microsoft is also a friend of the BlackBerry.

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