Vodafone case: FinMin working on resolution

The finance ministry is working towards an amicable resolution of the retrospective tax amendment issue, which could provide relief to British telecom giant Vodafone, facing a tax liability of Rs 11,200 crore. The proposals, to be based on the recommendations of the Shome panel, are likely to be introduced in the Finance Bill to be presented by Finance Minister P Chidambaram in Budget 2012-13. “The government is constantly addressing the concerns of investors. There will be an amicable resolution of the issue (Vodafone tax case) in the Budget,” said a senior ministry official.