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Vodafone, Cairn in Talks to Settle Tax Disputes, India Says

  • Official says retro-tax rule change adds to policy certainty
  • India is also finding solution on telecom companies’ dues
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WATCH: India’s Revenue Secretary Tarun Bajaj says the government is in talks with the companies to settle the dispute.(Source: Bloomberg)
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India is in talks with Vodafone Group Plc and Cairn Energy Plc to settle long-running tax disputes with them, a top government official said after the nation last week moved to abolish a rule on retrospective taxation scorned by investors.

“There are some informal discussions going on,” Revenue Secretary Tarun Bajaj said in an interview with Bloomberg Television’s Haslinda Amin on Monday. “I would not like to discuss them in public domain, but overall the answer to your question is, yes,” he said when asked if the companies were willing to drop cases in international tribunals.