Moneycontrol
Jan 09, 2013 09:53 AM IST | Source: CNBC-TV18

Vodafone & Fin Min to call truce in retrospective tax case?

The finance ministry is likely to reply to Vodafone's letter this week. The ministry is currently examining the letter. Aakansha Sethi of CNBC-TV18, joins with the details.


The finance ministry is likely to reply to Vodafone's letter this week. The ministry is currently examining the letter. Aakansha Sethi of CNBC-TV18, joins with the details.


Also read: Revenue dept sends reminder on tax liability to Vodafone


Senior officials in the finance ministry have told that they are examining the letter sent to Vodafone. The letter sent to Vodafone said that while there is no tax applicable to Vodafone, they are willing to talk to the government and reach an amicable resolution. Sources in the finance ministry say that this is a positive sign.

It has been reported that a settlement is likely between Vodafone and the government. It remains to be seen if that actually happens because Vodafone is keen on a penalty interest as well as a waiver on the tax amount, but the government only wants to give a penalty waiver. So, whether they will be able to achieve a resolution or not, remains to be seen but it is likely that a meeting will happen between the two parties over the next one month. 

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