The government has replied to Vodafone’s notice that threatened international arbitration, saying there was no cause of action. It may send a reply and a tax notice to the company after the Finance Act is notified in the official gazette.
“We have replied to Vodafone saying there is no cause of action because no law had been amended...It is premature on behalf of Vodafone,” said a finance ministry official.
Earlier in the day, finance Minister Pranab Mukherjee had said the Income Tax Department would not reopen cases in which assessment proceedings had been finalised before April 1, 2012. “With regard to retrospective amendments, I gave a commitment in Parliament that CBDT (Central Board of Direct Taxes) will issue a policy circular clarifying cases in which assessment proceedings had been finalised before the first day of April 2012...shall not be reopened,” he said.In April, Vodafone, through its Dutch subsidiary, Vodafone International Holdings BV, had issued a notice to the government under the Bilateral Investment Promotion and Protection Agreement (Bipa) between India and the Netherlands. It had asked the government to either abandon or amend the retrospective aspects to the Finance Act, 2012, or face arbitration proceedings. “We have refunded Rs 2,500 crore, as the Supreme Court had ordered. It is premature to invoke the Bipa. As and when amendments take place, we would give a befitting reply,” the official added.
An inter-ministerial group, headed by Finance Secretary R S Gujral, was formed to draft a response to Vodafone’s notice. The group, comprising secretaries of the Department of Economic Affairs, law ministry, telecom ministry and external affairs ministry, felt taxation issues were not covered under Bipa.
The issue had come to the fore when the government had proposed retrospective amendments in Section 9 of the Income Tax Act to tax indirect transfer of capital assets. It had also put a validation clause on its tax demand on Vodafone, after the Supreme Court had ruled in favour of the company in January.
The amendments, which the finance ministry had termed clarificatory in nature, would also affect a few other deals. The official said eight more companies could receive tax notices for deals structured in manner similar to the Vodafone one. The ministry expects about Rs 40,000 crore of tax from such deals.
Disputes on capital gains tax on other merger and acquisition deals pending in courts include those on the $150-mn Idea Cellular-AT&T deal, GE’s $500-mn deal with Genpact, the $981-mn Mitsui-Vedanta Sesa Goa deal, the SABMiller-Fosters deal and the $770-mn Sanofi Aventis-Shantha Biotech deal.
Vodafone full-year profit down 11 pct - Yahoo Finance
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LONDON (AP) -- Vodafone Group PLC has reported an 11 percent drop in full-year profit due to higher taxes and weaker operations in Europe. The company said Tuesday that profit after tax in the year ending March 31 was 7 billion pounds ($11 ...Vodafone 'surprises' with Samsung Galaxy S III release today - Australian PC World
The highly anticipated Samsung Galaxy S III will be available today from Vodafone — online at Vodafone's web store from 11AM, and in retail stores from midday.
The official Vodafone website for the Galaxy S III has not yet been launched: vodafone.com.au/galaxys3 shows an error page. Vodafone is currently live-streaming the phone's launch from Sydney's Capitol Theatre.
Update: The Vodafone Galaxy S III website is now live.
According to Vodafone, the company has "engineered a surprise launch" of the phone. The Galaxy S III has been one of the most talked-about phones of 2012, but information on its Australian launch has been scarce until now.
Vodafone will release the Samsung Galaxy S III on a variety of 24 month plans. Any customer that signs up with Vodafone for a Galaxy S III phone and plan before June 30 will get double the usual monthly data allowance for the first 12 months of their contract.
Vodafone Australia says that "one half of the world’s most famous twins" — singer-musician-television personality Joel Madden — will be launching the double data offer at the Vodafone store at 9/250 Pitt St in Sydney at midday today.
Samsung Galaxy S III preview
In pictures: the Samsung Galaxy S III
Where can you buy the Samsung Galaxy S III in Australia?
The Vodafone Australia press release follows:
Vodafone has engineered a surprise launch of the highly-anticipated Samsung GALAXY S III, available online from 11am (AEST) and in store from midday today, with double the usual data allowance for the first 12 months on the 24-month plan.
Vodafone is offering the hot new Samsung GALAXY S III 16GB in white and pebble blue at $5 per month on its $59 plan over 24-months and the 32GB in both colours at $10 per month on its $59 plan over 24-months with both plans including an amazing double the usual data inclusions for the first 12 months.
‘Designed for humans and inspired by nature’, the Samsung GALAXY S III aims to fulfil the owner’s every need by thinking like they think and acting like they act. With incredible new features such as Pop Up Play and Best Photo, the new double the data offer from Vodafone allows customers to experience the full capabilities of the new Samsung smartphone.
Ross Parker, General Manager of Devices and Pricing, Vodafone said: “Our customers have an almost insatiable appetite for mobile internet and entertainment, and there’s a very simple rule we use to size our data inclusions: the faster and more intuitive the phone, the more our customers will use it, so we’re doubling our usual data inclusions specifically for the Samsung GALAXY S III for the first year on select 24 month mobile plans on Vodafone.”
Parker continues, “We want our customers to enjoy the incredible Samsung Galaxy S III experience on Vodafone’s new network without having to watch their pennies on data use.”
Vodafone executive died after working his way through hotel minibar - Daily Telegraph
The executive's body was flown back to Britain after his death and a post mortem revealed he had died of alcohol poisoning compounded by heart problems.
In the aftermath of his death shocked colleagues at the mobile phone company clubbed together to raise almost £3,500 pounds for the British Heart Foundation in his memory.
A statement posted on their charity appeal website read: "Mark Breslin, our commercial leader in the M2M team, passed away whilst on Vodafone business in Seattle.
"Mark was one of the driving forces in our M2M business who brought huge energy and personality to everything he did.
"He will be greatly missed by us all so please dig deep and donate now to his family's chosen charity."
His distraught wife Imogen listened quietly as the details of his tragic death were read out but asked no questions during the short hearing today.
Coroner Andrew Bradley, sitting in Alton, Hants., recorded a verdict of misadventure after finding Mr Breslin had not intended to drink himself to death at the posh hotel.
A post mortem returned the cause of death as Ethanol Intoxication after tests revealed his blood contained up to five times the drink drive limit.
Prior to his death he lived in a £450,000 pounds detached home in Foxs Furlong, Chineham, Basingstoke, Hants., with Imogen. The couple had two children.
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