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If you talking about Vodafone case: While retroactive applicability of Income Tax act is questionable, it is hard to argue for Vodafone or Hutchinson when they
by gnufied 13y ago
If you talking about Vodafone case:
While retroactive applicability of Income Tax act is questionable, it is hard to argue for Vodafone or Hutchinson when they tried to avoid Tax by doing the transaction through a Cayman Island registered entity. To me, while it may be legal at that time, it sounds like pure corporate greed which Indian government is trying to fix. But that is not very different from other countries such as UK, Countries in EU trying to clamp down on Tax Haven exploits by Google etc.
- seanmcdirmid 13y agoDeveloped countries won't change rules for the past, since it is quite impossible to follow them...it just doesn't make sense. I'm also thinking of Nokia and uncertain tax liabilities, India is just a horrible place to do business these days, it's riskier than even china.