Vodafone willing to pay Rs80bn tax

Britain-based telecom service provider Vodafone yesterday said it could pay taxes amounting to around Rs80bn to the Indian government if the interest and penalty are waived. “We have made our public position very clear that Vodafone is completely ready to discuss the matter,” Analjit Singh, non-executive chairman, Vodafone India, told reporters after a meeting with tax officials in New Delhi. “It is an option,” he said, referring to payment of taxes. The Income Tax department has sought over Rs110bn as tax and interest from Vodafone for acquiring Hutchison stake in Hutchison-Essar in 2007. The Supreme Court, however, struck down the claim. After the ruling, the 1961 Income Tax Act was amended with retrospective effect to bring into tax net such deals.