Vodafone says stable tax regime important

Welcoming the government's decision not to appeal against a court order in a transfer pricing case, UK-based telecom giant Vodafone today said stability in tax matters is important for investors.

New Delhi: Welcoming the government's decision not to appeal against a court order in a transfer pricing case, UK-based telecom giant Vodafone on Wednesday said stability in tax matters is important for investors.

"We welcome the Indian government's decision not to appeal the Bombay High Court ruling.

"Stability and predictability in tax matters are important for long-term investors such as Vodafone," a company spokesperson said.

To avoid "fruitless litigation" and allay investors' concerns on tax issues, government on Wednesday decided against appealing a court order that absolved Vodafone of Rs 3,200 crore tax demand in a transfer pricing case.

The High Court in its October 10, 2014 order had given a big relief to the UK-based mobile service provider by ruling that it is not liable to pay an income tax demand of Rs 3,200 crore in a case relating to transfer pricing.

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