Vodafone hints at paying $2 bn tax on Hutchison deal

However,he warned that such a move will have backlash on Indian companies doing similar transactions overseas because in retaliation,foreign governments may penalise them.

He asserted that there was no case for levying tax on a deal that was done outside the country and thats the basic question at the centre of the table.

Asked if this would act as a deterrent to Vodafone’s future plans in India,Pieters said,…Its really bad news but it is a one off and we are here to stay for the (next) 20 years. Which means I am far more interested in whether the conditions are good for the next two decades.