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Retrospective tax

24 Feb 2022

Retro Tax Case: India pays Cairn Rs 7,900 crore to settle dispute

The company in a statement said it has received "net proceeds of USD 1.06 billion". Cairn had in 2006-07 reorganised its India business, which comprised operations of prolific Rajasthan oilfields, prior to its listing on stock exchanges. The British firm contested the demand, saying all taxes due were duly paid.

Retrospective tax

26 Dec 2021

Retro Tax: Cairn drops lawsuits against Indian govt in US, UK

Cairn is in the final stages of withdrawing cases in Paris and the Netherlands. Cairn on November 26 withdrew the lawsuit it had brought in Mauritius. A critical lawsuit in a French court is in the final stages of withdrawal.

Vodafone retro tax

03 Dec 2021

Vodafone files application with govt for settlement of retro tax dispute

The company said it has "always been confident" that no tax is due on the firm. The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets. Vodafone spokesperson said, "We can confirm we have filed an application".

Retrospective tax

02 Oct 2021

Retro tax settlement: Cairn, Vodafone, others to wait 5 months to get refund

Repayment will take a minimum of 2-3 months. Companies will have to withdraw pending litigations against the Indian government.

Retrospective tax

06 Aug 2021

Explained –What Is Retrospective Tax and how does it affect investors?

What Is Retrospective Tax? How does Retrospective Tax affect investors? Read about Retrospective Tax and its impact on companies.

Cairn Energy Plc

08 Jun 2017

Cairn approaches international panel for injunction against I-T dept

Cairn Energy plc has approached an international arbitration panel seeking an injunction against Indian income tax department initiating proceedings to recover Rs 10,247 crore in retrospective tax.

Cairn Energy CEO

13 May 2016

Retrospective tax not helping government image: Cairn Energy CEO

The major retrospective tax disputes include those involving Vodafone and Cairn.

Vodafone's plea

17 Mar 2016

Centre, IT to reply on Vodafone plea against special audit notice

Delhi High Court on Thursday sought the Centre's response on Vodafone's plea challenging an Income Tax notice asking the company to show cause why its 2011-12 financial records not be subjected to special audit to arrive at the total income for assessment year 2012-13

15 Mar 2016

I-T Dept slaps Rs 29,000 crore tax demand notice on Cairn Energy

It is the second firm to have received retrospective tax notice this year after Vodafone Group.

multi- billion dollar tax liabilitiY

06 Mar 2016

Govt can't waive tax on Vodafone, Cairn: Adhia

Government cannot waive the multi- billion dollar tax liabilities that Vodafone and Cairn Energy face, although it has done the most it could in offering to remove interest and penalty if the principal is paid, Revenue Secretary Hasmukh Adhia has said.

03 Mar 2016

Retrospective tax not fully addressed in Budget: UK investors

The Indian Budget has received a positive response from the UK-based Indian business community but the issue of retrospective taxation was flagged as a concern by them.

02 Mar 2016

Govt has taken 'one step forward' on retro tax issue: Jaitley

The government has taken "one step forward" to resolve the retrospective tax cases by putting in place a statutory mechanism for ending such disputes, Finance Minister Arun Jaitley said on Wednesday.

28 Feb 2016

Budget 2016 may address retrospective tax concerns

In an interview to PTI, Chief Economic Advisor Arvind Subramanian has said that the present government is taking "consistent steps" to deal with the legacy tax issues to regain investor confidence.

17 Feb 2016

Aapka Bazaar: Rashesh Shah On Vodafone Tax Issue Of Paying Rs 14200 crore

30 Jan 2016

FM Jaitley pushes GST, reassures on back taxes

Jaitley reiterated a reassurances that India would not pursue foreign companies with new retroactive tax claims, adding that he would like to see the few remaining disputes resolved "as expeditiously as possible."

24 Jan 2016

Retrospective tax is a thing of past, says PM Narendra Modi; India-France sign 16 MoUs

He also announced that France would immediately start investing USD 1 billion in India annually which will be scaled up later. The two sides also signed 16 MoUs, including one for manufacture of helicopters in India.

24 Jan 2016

Retrospective Tax is thing of the past, will never be opened again: PM Narendra Modi

Addressing the business leaders of France and India here in presence of French President Francois Hollande, Modi said his government wants to ensure that foreign investors are clear about tax systems that will prevail in India over the next 15 years.

09 Jan 2016

British MP nudges Jaitley on Cairn Energy tax dispute

In January 2014, Cairn was slapped with a Rs 10,247 crore assessment notice.

27 Dec 2015

Retrospective tax issues: Govt open to out-of-court settlement

Keen to put an end to the overhang of legacy issues, the government is open to any proposal for an out-of-court settlement of retrospective tax issues like the ones facing Vodafone and Cairn Energy.

Retrospective tax

20 Dec 2015

Cairn writes to PM Narendra Modi on retrospective tax case

Cairn Energy chief executive Simon Thomson wrote to Modi recalling his statement in London that the government "will not resort to retrospective taxation and has demonstrated this position in a number of ways".

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