{"id":391451,"date":"2020-12-24T11:18:43","date_gmt":"2020-12-24T05:48:43","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=391451"},"modified":"2020-12-24T12:22:34","modified_gmt":"2020-12-24T06:52:34","slug":"retrospective-tax-after-vodafone-india-loses-cairn-arbitration-case","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/retrospective-tax-after-vodafone-india-loses-cairn-arbitration-case\/","title":{"rendered":"Retrospective tax: After Vodafone, India loses Cairn arbitration case"},"content":{"rendered":"<p>Cairn Energy Plc won a major relief on Wednesday as the Permanent Court of Arbitration at The Hague ruled that the Indian government\u2019s retrospective tax demand against the global oil and gas major was \u201cinconsistent\u201d with the UK-India bilateral treaty.<\/p>\n<p>The international tribunal also ruled that India\u2019s demand of $1.2 billion in retrospective tax was \u201cin breach of the guarantee of fair and equitable treatment\u201d.<\/p>\n<p>The judgment has asked the government to pay $1.2 billion (roughly Rs 8,800 crore) to Cairn Energy Plc \u2014 this, at a time when its revenues are strained due to the economic slowdown in the aftermath of the Covid-19 pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairn Energy Plc won a major relief on Wednesday as the Permanent Court of Arbitration at The Hague ruled that the Indian government\u2019s retrospective tax demand against the global oil and gas major was \u201cinconsistent\u201d with the UK-India bilateral treaty. The international tribunal also ruled that India\u2019s demand of $1.2 billion in retrospective tax was \u201cin breach of the guarantee of fair and equitable treatment\u201d. The judgment has asked the government to pay $1.2 billion (roughly Rs 8,800 crore) to Cairn Energy Plc \u2014 this, at a time when its revenues are strained due to the economic slowdown in the [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-391451","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=391451"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/391451\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=391451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=391451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=391451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}