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Vodafone to pay taxes or face a seizure

India's Income tax department has asked Vodafone to make the tax payment of $2.1 Billion, failing to do so, the company will have to face a seizure of its asset. The dispute arises from 67% stake in mobile phone business owned by Hutchison Whampoa. Vodafone however reports that the transaction was conducted offshore and hence it owes no money to the Indian Government.

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