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January 2017
Recent tax developments in India highlight the need for focused legal advice on India-related cross border transactions.
Background
On 20 January 2012, the Supreme Court of India delivered a landmark ruling in Vodafone International Holdings BV v. Union of India1, where it recognized a well-accepted principle of taxation: the transfer of shares of a company incorporated outside India from a non-resident seller to a non-resident buyer is not taxable by the Indian tax authorities, even if such transfer indirectly transfers an asset in India.
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