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Vodafone Starts Audit Into Possible Tax Fraud at Ono Unit
2014-10-27 16:18:59| Telecom - Topix.net
Vodafone Group Plc began an internal probe into possible tax fraud at Grupo Corporativo Ono SA, the Spanish cable operator it bought this year for 7.2 billion euros . The mobile-phone carrier started "a forensic audit to investigate the facts relating to the alleged fraud" as soon as it became aware of the issue, Newbury, England-base Vodafone said yesterday, after El Pais newspaper reported the probe.
Vodafone to audit alleged tax fraud at Ono
2014-10-27 10:30:00| Telecompaper Headlines
(Telecompaper) Vodafone has launched an investigation into possible tax fraud at Ono, the Spanish broadband provider it acquired earlier this year for EUR 7.2 billion. According to a report in Spanish daily El Pais, Vodafone is looking into value-added tax declarations that Ono allegedly failed to make prior to the acquisition. The Spanish operator is said to have failed to declare value-added tax at a division with revenues of more than EUR 200 million from the sale of international calling minutes. "As soon as Vodafone became aware of the issue we instigated a forensic audit to investigate the facts relating to the alleged fraud," announced Vodafone, which refrained from making further comments because the matter is currently under investigation by Spanish tax authorities. In addition, Vodafone has blocked the pay out of bonuses to former Ono executives while the probe is underway, according to Spanish website El Confidencial. Ono's former chairman Jose Maria Castellano, CEO Rosalia Portela and CFO Carlos Sagasta were due more than EUR 65 million in bonuses after the takeover was completed in July. Vodafone initially said that Portela would keep her position to facilitate a "transition without disruption", but she ended up leaving the company in September.
VIDEO: Hungarian protest over internet tax
2014-10-27 10:10:56| BBC News | Business | UK Edition
Thousands of people have been taking part in a protest in Hungary against government plans to tax the internet, one of the first such attempts in the world.
Tags: internet
video
tax
protest
LIVE BLOG: Tax Free World Association World Exhibition 2014 Cannes
2014-10-27 08:58:00| Daily beverage news and comment - from just-drinks.com
The 30th Tax Free World Association exhibition is underway in Cannes. just-drinks reporter Andy Morton is there to keep you informed in this live blog as he meets top management from the Travel Retail sector and attends industry events. Get in touch at andy.morton@just-drinks.com or through just-drinks' social media.
LIVE BLOG: Tax Free World Association World Exhibition 2014 Cannes - Monday
2014-10-27 08:58:00| Daily beverage news and comment - from just-drinks.com
The 30th Tax Free World Association exhibition is underway in Cannes. just-drinks reporter Andy Morton is there to keep you informed in this live blog as he meets top management from the Travel Retail sector and attends industry events. Get in touch at andy.morton@just-drinks.com or through just-drinks' social media.
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