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LONDON, Jan 30 (Reuters) - India's finance minister, PChidambaram, said he is confident that a more than $2 billiontax dispute between Vodafone Group Plc and the country'stax office will be resolved as the two sides continue talks.
Vodafone, the largest corporate investor in India, hasrepeatedly clashed with Indian authorities over taxes since itbought Hutchison Whampoa's local mobile business in2007.
"I'm sure some way will emerge out of these discussions. Iwill be very happy if we could find a resolution to the issue,put it behind us and move on," Chidambaram told Reuterstelevision in an interview in London on Tuesday.
"I think Vodafone is of the same view, so both governmentand Vodafone are keen to resolve the matter and I am confidentwe can resolve it," he said.
India's Supreme Court last year in January ruled that theBritish company was not liable to pay any tax arising out of the2007 acquisition.
But the Indian government later amended 50-year-old tax lawsenabling it to make retroactive tax claims on long-concludedcorporate deals, a move which has been heavilycriticised.
Indian officials and Vodafone have had two rounds ofdiscussions on the dispute and were expected to have a thirdround of talks in the next few days, Chidambaram said.
Finance ministry officials have previously said thegovernment may consider waiving off interests and penalty on theoriginal tax demand, however it will prefer to take parliamentapproval for any such concession.
Chidambaram described Vodafone's case as a "one-off", andsaid he had "no formula in mind" on resolving the dispute.
" It arose out of an interpretation of an existing law.People have criticised it as applying a law retrospectively,"Chidambaram said.
"I don't want to get into an argument over that, but let'sresolve it, put it behind us and move on."
