Warns of uncertainty for foreign investors and impact on investment climate
PTI | February 5, 2010
British Prime Minister Gordon Brown has written to his Indian counterpart Manmohan Singh about a tax claim on Vodafone Group Plc, even as India has said that the matter is in the court and no decision has been taken.
Indian income tax authorities are seeking $2 billion in capital gains tax from Vodafone over its purchase of Hutchison Essar Ltd, three years ago, Bloomberg-UTV said.
In his letter Brown said that taxing cross-border deals such as the Vodafone one could create uncertainty for foreign investors and affect the country's investment climate.
But India has replied that the matter was before the court.
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