comscore Raghuram Rajan slams Vodafone for not paying 'a single naya paisa' of demand
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Raghuram Rajan slams Vodafone for not paying 'a single naya paisa' of demand

Talking about Vodafone tax dispute debate, RBI Governor Raghuram Rajan feels India is making serious efforts to become a friendly place for conducting business, which also puts a predictable tax regime in place.

  • Published: May 14, 2016 12:16 PM IST
vodafone-stcok-image

Wading into the Vodafone tax dispute debate, Reserve Bank Governor Raghuram Rajan today said the British telecom giant has not paid “a single naya paisa” as yet on the demands made on it, but this case always comes in when India talks about creating a predictable tax regime. In an interaction here at Chicago Booth School, Rajan said India is making serious efforts to become “a more-friendly place to do business” and putting in place a predictable tax regime is part of those efforts. Also Read - Fake WhatsApp message claims free internet for three months, don't fall for it

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“One of the things that we have been working hard on is creating a predictable tax structure. But every time we talk about taxes, we get Vodafone sort of flung-back at us. Also Read - DoT permits telecom service providers to go ahead with 5G trials

“Remember Vodafone has yet to pay a single naya paisa on the demands that were levied on it. That’s going on. We have a structure of how this is decided and the government has said repeatedly we can’t subvert that structure for a specific case.

ALSO READ: Vodafone acquires more spectrum to its expand its 4G network in India

“But going forward, we will try and make tax regime as transparent and as clear to you as possible and I think that effort is underway. So, there are now, advanced tax rulings that you can get from the tax authorities. Across the board, the attempt is to make India a better way to do business.”

Vodafone has been lodged in a long-running dispute with the Indian tax authorities. Rajan said ‘Make in India’ program is about a lot of things that are taking place in India.

ALSO READ: High Court seeks Income Tax department reply on Vodafone s plea

“It involves things like improving infra, making it easier to do business, bringing down cost of doing business. It is about making India a more-friendly place to do business.”

ALSO READ: Vodafone moves High Court against TRAI s interconnect regulations

“Amongst the things that we need to is to improve R&D. Of course there are foreign institutions that have come and set up R&D offices in places like Bangalore and Hyderabad and we need to encourage that. We also need to encourage domestic R&D, as also joint ventures. There are attempts to increase that,” he added.

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  • Published Date: May 14, 2016 12:16 PM IST



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