Indian court upholds big tax bill against Vodafone
Legal World
In a landmark ruling Wednesday, an Indian court said Vodafone Group Plc is liable for an estimated $2.6 billion in taxes for its 2007 acquisition of one of India's largest mobile phone companies.
The decision sets a precedent that could impact hundreds of foreign transactions and have a chilling effect on foreign investment, tax experts say.
"We will very seriously consider an appeal," a Vodafone executive said Wednesday after the verdict.
The Bombay High Court said Vodafone won't have to pay any tax for at least eight weeks, while it considers an appeal to the Supreme Court, the nation's highest court. The tax amount due is also up for negotiation.
"We expect them to pay the tax unless the Supreme Court stays it," Tax Department attorney B.M. Chatterjee told The Associated Press after the verdict.
In May 2007, Vodafone International Holdings BV — a Dutch subsidiary of the British telecom giant — acquired a 67 percent stake in CGP Investments Ltd., a Cayman Islands company, which held the India telecom assets of Hong Kong's Hutchison Telecommunications International Ltd.
Vodafone maintains that it did not owe tax on the $11 billion transaction because it took place between two foreign entities.
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Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.