Code Context </style>
<?php if(sizeof($quizpole)>0){?>
<h3>Quiz for <?php echo $title; ?></h3>
$viewFile = '/var/www/currentaffairs.studyiq.com/plugins/Studyiq/src/Template/Pages/tagdetails.ctp'
$dataForView = [
'headertags' => [
(int) 0 => object(Cake\ORM\Entity) {},
(int) 1 => object(Cake\ORM\Entity) {},
(int) 2 => object(Cake\ORM\Entity) {},
(int) 3 => object(Cake\ORM\Entity) {},
(int) 4 => object(Cake\ORM\Entity) {},
(int) 5 => object(Cake\ORM\Entity) {},
(int) 6 => object(Cake\ORM\Entity) {},
(int) 7 => object(Cake\ORM\Entity) {},
(int) 8 => object(Cake\ORM\Entity) {},
(int) 9 => object(Cake\ORM\Entity) {},
(int) 10 => object(Cake\ORM\Entity) {},
(int) 11 => object(Cake\ORM\Entity) {},
(int) 12 => object(Cake\ORM\Entity) {},
(int) 13 => object(Cake\ORM\Entity) {}
],
'breadcrumb' => [
(int) 0 => [
'name' => 'Home',
'link' => 'https://currentaffairs.studyiq.com/'
],
(int) 1 => [
'name' => 'Bills & Laws',
'link' => 'https://currentaffairs.studyiq.com/tags/bills-laws'
]
],
'previous' => [
(int) 0 => object(Cake\ORM\Entity) {}
],
'next' => [
(int) 0 => object(Cake\ORM\Entity) {}
],
'currentaffairs' => [
(int) 0 => object(Cake\ORM\Entity) {}
],
'customer_id' => '',
'metadescription' => 'Bills & Laws, The Permanent Court of Arbitration at The Hague ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed Vodafone',
'metakeyword' => 'Retrospective taxation',
'title' => 'Bills & Laws, Retrospective taxation',
'tagname' => 'Bills & Laws',
'sbanners' => [
(int) 0 => object(Cake\ORM\Entity) {},
(int) 1 => object(Cake\ORM\Entity) {},
(int) 2 => object(Cake\ORM\Entity) {},
(int) 3 => object(Cake\ORM\Entity) {}
],
'params' => [
(int) 0 => 'bills-laws',
(int) 1 => 'retrospective-taxation'
]
]
$headertags = [
(int) 0 => object(Cake\ORM\Entity) {
'id' => (int) 3,
'name' => 'Art & Culture',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'art-culture',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Current Affairs Arts and Cultures Articles | Current Affairs',
'metakeyword' => 'Current Affairs Arts, Cultures Articles, Cultures Current Affairs Articles, Cultures Current Affairs, Current Affairs, Current Affair GK, General Knowledage',
'metadescription' => 'Current Affairs Arts and Cultures Articles complete current affairs details of Arts and cultures with complete depth analysis or full details of all current affair Articles',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 1 => object(Cake\ORM\Entity) {
'id' => (int) 4,
'name' => 'Polity & Governance',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'polity-governance',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Polity Current Affairs | Governance Current Affair | Polity GK',
'metakeyword' => 'Polity Current Affairs, Governance Current Affair, Polity GK, Current Affairs of Polity, Current Affairs of Governance, Current affair Polity',
'metadescription' => 'Polity Current Affairs, Governance Current Affair, and current affairs of Polity and Governance and more get with Study IQ Education Articles and full details',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 2 => object(Cake\ORM\Entity) {
'id' => (int) 5,
'name' => 'International Affairs',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'international-affairs',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'International Affairs | International Current Affairs, GK, News',
'metakeyword' => 'International Affairs, International Current Affairs, International GK, International News, International burning Issues, International Today Affairs, International Current Affair, International current affairs 2019',
'metadescription' => 'International Affairs, International Current Affairs, GK, News, burning issues and all relative information of Internation you can get here for depth knowledge',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 3 => object(Cake\ORM\Entity) {
'id' => (int) 6,
'name' => 'Economy',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'economy',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Economy Current Affairs | Economy Current Affair 2019 | Study IQ',
'metakeyword' => 'Economy Current Affairs, Economy Current Affair, Economy Current Affair 2019, Economy GK news, Economy Affairs, Current Affairs Economy, Current Affair Economy',
'metadescription' => 'Economy Current Affairs, Economy Current Affair 2019 and all the Economy Current Affair, GK, Burning Issues, News, get on study IQ education for exams preparation',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 4 => object(Cake\ORM\Entity) {
'id' => (int) 7,
'name' => 'Banking Awareness',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'banking-awareness',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Banking Awareness Current Affairs, GK, News, Burning Issues',
'metakeyword' => 'Banking Awareness, Current Affairs, Current Affair, bANKING CURRENT AFFAIRS, Current affair of Banking, Current affair of Bank, Current affairs of Bank, BAnk current affairs',
'metadescription' => 'Banking Awareness Current Affairs, GK, News, Burning Issues, and all the latest current affairs of Banking Awareness or Banking for Govt exams preparation',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 5 => object(Cake\ORM\Entity) {
'id' => (int) 8,
'name' => 'Defence & Security',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'defence-security',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Defence Current Affairs | Defence & Security Current Affairs',
'metakeyword' => 'Defence Current Affairs, Current Affairs, Current Affair, Current Affairs of Defence, Security Current Affairs, Security Current Affairs 2019, Security Current Affairs daily, Defence Current Affairs Daily',
'metadescription' => 'Defence Current Affairs, Defence & Security Current Affairs and complete details of Defence & Security current affairs, burning issues of Defence, Defence Today News ',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 6 => object(Cake\ORM\Entity) {
'id' => (int) 9,
'name' => 'Environment',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'environment',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Environment Current Affairs, Current Affairs 2019- Study IQ',
'metakeyword' => 'Environment Current Affairs, Current Affairs Articles, Current Affairs of Environment, Current Affairs Environment',
'metadescription' => 'Environment Current Affairs, Current Affairs 2019, Study IQ provide complete information of Environment Current Affairs, GK, Bunrning Issues, latest news and more',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 7 => object(Cake\ORM\Entity) {
'id' => (int) 10,
'name' => 'Science & Technology',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'science-technology',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Science & Technology Current Affairs | Science Current Affairs',
'metakeyword' => 'Science & Technology Current Affairs, Science & Technology Current Affair, Science Current Affairs, Science Current Affair, Technology Current Affair, Technology Current Affairs',
'metadescription' => 'Science & Technology Current Affairs, Science Current Affairs, Technology today affairs and more relative Science & Technology information get here free',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 8 => object(Cake\ORM\Entity) {
'id' => (int) 11,
'name' => 'Miscellaneous',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'miscellaneous',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Miscellaneous Current Affairs Articles 2019, GK News | Study IQ',
'metakeyword' => 'Current Affairs Articles 2019, Miscellaneous Current Affairs, GK News, Current Affairs Articles',
'metadescription' => 'Current Affairs Articles, Current Affairs GK News analysis, and all topic relative information get here free and online so no need go anywhere that makes time saving ',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 9 => object(Cake\ORM\Entity) {
'id' => (int) 12,
'name' => 'Government Schemes',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'government-schemes',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Government Schemes Current Affairs | Govt Current Affairs StudyIQ',
'metakeyword' => 'Government Schemes Current Affairs, Government Current Affairs, Current Affairs of government, ',
'metadescription' => 'Government Schemes Current Affairs, Government Current Affairs ad all government relative latest information, news, burning issues and more get here',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 10 => object(Cake\ORM\Entity) {
'id' => (int) 13,
'name' => 'Persons in News',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'persons-in-news',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Persons in News | Current Affairs, Awards, Books, Obituaries News',
'metakeyword' => 'Persons in News, Current Affairs, Awards, Books, Obituaries News',
'metadescription' => 'Persons in News, Current Affairs, Awards, Books, Obituaries News, and all the daily current affairs news you will get here with complete information',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 11 => object(Cake\ORM\Entity) {
'id' => (int) 14,
'name' => 'Constitution',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'constitution',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Constitution | Indian Constitution | World Constitution ',
'metakeyword' => 'constitution, Indian Constitution, World Constitution, Country Constitution ',
'metadescription' => 'Get the all the country constitution like Indian constitution, world constitution and more here you can get all the latest information relative to constitution',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 12 => object(Cake\ORM\Entity) {
'id' => (int) 15,
'name' => 'Biodiversity',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'biodiversity',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Biodiversity | ??? ??????? | Biodiversity Current affairs',
'metakeyword' => 'Biodiversity, ??? ???????, Biodiversity Current affairs',
'metadescription' => 'Biodiversity, ??? ???????, Biodiversity Current affairs, Get the latest Biodiversity information with us where you get all the latest information about Biodiversity',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
},
(int) 13 => object(Cake\ORM\Entity) {
'id' => (int) 16,
'name' => 'Ecology',
'parent_id' => (int) 2,
'description' => '',
'keyword' => 'ecology',
'sortorder' => (int) 0,
'status' => (int) 1,
'metatitle' => 'Ecology Topic Wise Current afairs | Ecology Current Affairs ',
'metakeyword' => 'Ecology Current Affairs, Ecology Current Affairs 2021, Best Ecology Current Affairs, ecology topic wise current affairs, ecology',
'metadescription' => 'Best Ecology Current affairs - Get the ecology topic current affairs for all the govt exams preparation with best studyiq faculties and also get free ecology topic pdf on daily basis ',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'cacategories'
}
]
$breadcrumb = [
(int) 0 => [
'name' => 'Home',
'link' => 'https://currentaffairs.studyiq.com/'
],
(int) 1 => [
'name' => 'Bills & Laws',
'link' => 'https://currentaffairs.studyiq.com/tags/bills-laws'
]
]
$previous = [
(int) 0 => object(Cake\ORM\Entity) {
'tags' => 'Bills & Laws',
'keyword' => 'bills-laws',
'title' => 'Guarantee of Sexual Freedom Bill',
'posturl' => 'guarantee-sexual-freedom-bill',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'currentaffairs'
}
]
$next = [
(int) 0 => object(Cake\ORM\Entity) {
'tags' => 'Bills & Laws',
'keyword' => 'bills-laws',
'title' => 'Cabinet approves National Institutes of Food Technology, Enterpreneurship and Management Bill, 2019',
'posturl' => 'cabinet-approves-niftem-bill-2019',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'currentaffairs'
}
]
$currentaffairs = [
(int) 0 => object(Cake\ORM\Entity) {
'tag' => 'Bills & Laws',
'keyword' => 'bills-laws',
'id' => (int) 5821,
'title' => 'Retrospective taxation',
'description' => '<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Issue</strong></span></span></p>
<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Permanent Court of Arbitration at The Hague ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed Vodafone communication for a 2007 deal was in breach of the guarantee of fair and equitable treatment. </span></span></p>
<p style="margin-right:0cm"> </p>
<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Details</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In May 2007, Vodafone had bought a 67% stake in Hutchison Whampoa for $11 billion. This included the mobile telephony business and other assets of Hutchison in India.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The India government raised a demand of Rs 7,990 crore in capital gains and withholding tax from Vodafone, saying the company should have deducted the tax at source before making a payment to Hutchison.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Vodafone challenged the demand notice in the Bombay High Court, which ruled in favour of the Income Tax Department. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Subsequently, Vodafone challenged the High Court judgment in the Supreme Court, which in 2012 ruled that Vodafone Group’s interpretation of the Income Tax Act of 1961 was correct and that it did not have to pay any taxes for the stake purchase.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government circumvented the Supreme Court’s ruling by proposing an amendment to the Finance Act, thereby giving the Income Tax Department the power to retrospectively tax such deals. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Act was passed by Parliament that year and the onus to pay the taxes fell back on Vodafone. The case had by then become infamous as the ‘retrospective taxation case’.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">One of the major factors for the Court of Arbitration to rule in favour of Vodafone was the violation of the BIT and the United Nations Commission on International Trade Law (UNCITRAL).</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In 2014, when the Vodafone Group had initiated arbitration against India at the Court of Arbitration, it had done so under Article 9 of the BIT between India and the Netherlands.</span></span></p>
</li>
</ul>
<p style="margin-right:0cm"> </p>
<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Retrospective taxation</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Retrospective taxation allows a country to pass a rule on taxing certain products, items or services, and deals and charge companies from a time behind the date on which the law is passed.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Countries use this route to correct any anomalies in their taxation policies that have, in the past, allowed companies to take advantage of such loopholes. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">While governments often use a retrospective amendment to taxation laws to “clarify” existing laws, it ends up hurting companies that had knowingly or unknowingly interpreted the tax rules differently.</span></span></p>
</li>
<li>
<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif"">Apart from India, many countries including the US, the UK, the Netherlands, Canada, Belgium, Australia and Italy have retrospectively taxed companies, which had taken the benefit of loopholes in the previous law.</span></span></p>
</li>
</ul>
',
'created_date' => object(Cake\I18n\FrozenDate) {},
'posturl' => 'retrospective-taxation',
'image' => 'https://www.mediafire.com/convkey/f370/tjy1mzf88q4nv0x6g.jpg',
'fbimage' => 'https://www.mediafire.com/convkey/f370/tjy1mzf88q4nv0x6g.jpg',
'metatitle' => 'Retrospective taxation',
'metakeyword' => 'Retrospective taxation',
'metadescription' => 'The Permanent Court of Arbitration at The Hague ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed Vodafone',
'author' => null,
'downlaodpdf' => 'http://www.mediafire.com/file/41w1e3qblfav7ok/4.Retrospective_taxation.pdf/file',
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'currentaffairs'
}
]
$customer_id = ''
$metadescription = 'Bills & Laws, The Permanent Court of Arbitration at The Hague ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed Vodafone'
$metakeyword = 'Retrospective taxation'
$title = 'Retrospective taxation'
$tagname = 'Bills & Laws'
$sbanners = [
(int) 0 => object(Cake\ORM\Entity) {
'id' => (int) 61,
'bannername' => 'http://www.mediafire.com/convkey/5f54/lodkrbkhwk5lg1q6g.jpg',
'bannerlink' => 'https://www.studyiq.com/course-detail/ssc-bank-combo',
'isright' => (int) 0,
'status' => (int) 1,
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'sitebanners'
},
(int) 1 => object(Cake\ORM\Entity) {
'id' => (int) 62,
'bannername' => 'http://www.mediafire.com/convkey/0552/k9b1o467l8edtbc6g.jpg',
'bannerlink' => 'https://studyiq.com/courses/state-exams',
'isright' => (int) 0,
'status' => (int) 1,
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'sitebanners'
},
(int) 2 => object(Cake\ORM\Entity) {
'id' => (int) 63,
'bannername' => 'http://www.mediafire.com/convkey/154a/6y1qvv7v118759h6g.jpg',
'bannerlink' => 'https://www.studyiq.com/course-detail/upsc-ias-pre-mains',
'isright' => (int) 0,
'status' => (int) 1,
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'sitebanners'
},
(int) 3 => object(Cake\ORM\Entity) {
'id' => (int) 64,
'bannername' => 'http://www.mediafire.com/convkey/563c/o65x6jso51flz886g.jpg',
'bannerlink' => 'https://studyiq.com/courses/upsc/optional-subjects',
'isright' => (int) 0,
'status' => (int) 1,
'[new]' => false,
'[accessible]' => [
[maximum depth reached]
],
'[dirty]' => [[maximum depth reached]],
'[original]' => [[maximum depth reached]],
'[virtual]' => [[maximum depth reached]],
'[errors]' => [[maximum depth reached]],
'[invalid]' => [[maximum depth reached]],
'[repository]' => 'sitebanners'
}
]
$params = [
(int) 0 => 'bills-laws',
(int) 1 => 'retrospective-taxation'
]
$b = [
'name' => 'Bills & Laws',
'link' => 'https://currentaffairs.studyiq.com/tags/bills-laws'
]
$currentaffair = object(Cake\ORM\Entity) {
'tag' => 'Bills & Laws',
'keyword' => 'bills-laws',
'id' => (int) 5821,
'title' => 'Retrospective taxation',
'description' => '<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Issue</strong></span></span></p>
<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Permanent Court of Arbitration at The Hague ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed Vodafone communication for a 2007 deal was in breach of the guarantee of fair and equitable treatment. </span></span></p>
<p style="margin-right:0cm"> </p>
<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Details</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In May 2007, Vodafone had bought a 67% stake in Hutchison Whampoa for $11 billion. This included the mobile telephony business and other assets of Hutchison in India.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The India government raised a demand of Rs 7,990 crore in capital gains and withholding tax from Vodafone, saying the company should have deducted the tax at source before making a payment to Hutchison.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Vodafone challenged the demand notice in the Bombay High Court, which ruled in favour of the Income Tax Department. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Subsequently, Vodafone challenged the High Court judgment in the Supreme Court, which in 2012 ruled that Vodafone Group’s interpretation of the Income Tax Act of 1961 was correct and that it did not have to pay any taxes for the stake purchase.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The government circumvented the Supreme Court’s ruling by proposing an amendment to the Finance Act, thereby giving the Income Tax Department the power to retrospectively tax such deals. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">The Act was passed by Parliament that year and the onus to pay the taxes fell back on Vodafone. The case had by then become infamous as the ‘retrospective taxation case’.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">One of the major factors for the Court of Arbitration to rule in favour of Vodafone was the violation of the BIT and the United Nations Commission on International Trade Law (UNCITRAL).</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">In 2014, when the Vodafone Group had initiated arbitration against India at the Court of Arbitration, it had done so under Article 9 of the BIT between India and the Netherlands.</span></span></p>
</li>
</ul>
<p style="margin-right:0cm"> </p>
<p style="margin-right:0cm"><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><strong>Retrospective taxation</strong></span></span></p>
<ul>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Retrospective taxation allows a country to pass a rule on taxing certain products, items or services, and deals and charge companies from a time behind the date on which the law is passed.</span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">Countries use this route to correct any anomalies in their taxation policies that have, in the past, allowed companies to take advantage of such loopholes. </span></span></p>
</li>
<li>
<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif">While governments often use a retrospective amendment to taxation laws to “clarify” existing laws, it ends up hurting companies that had knowingly or unknowingly interpreted the tax rules differently.</span></span></p>
</li>
<li>
<p><span style="font-size:11.0pt"><span style="font-family:"Calibri","sans-serif"">Apart from India, many countries including the US, the UK, the Netherlands, Canada, Belgium, Australia and Italy have retrospectively taxed companies, which had taken the benefit of loopholes in the previous law.</span></span></p>
</li>
</ul>
',
'created_date' => object(Cake\I18n\FrozenDate) {},
'posturl' => 'retrospective-taxation',
'image' => 'https://www.mediafire.com/convkey/f370/tjy1mzf88q4nv0x6g.jpg',
'fbimage' => 'https://www.mediafire.com/convkey/f370/tjy1mzf88q4nv0x6g.jpg',
'metatitle' => 'Retrospective taxation',
'metakeyword' => 'Retrospective taxation',
'metadescription' => 'The Permanent Court of Arbitration at The Hague ruled that India’s retrospective demand of Rs 22,100 crore as capital gains and withholding tax imposed Vodafone',
'author' => null,
'downlaodpdf' => 'http://www.mediafire.com/file/41w1e3qblfav7ok/4.Retrospective_taxation.pdf/file',
'[new]' => false,
'[accessible]' => [
'*' => true
],
'[dirty]' => [],
'[original]' => [],
'[virtual]' => [],
'[errors]' => [],
'[invalid]' => [],
'[repository]' => 'currentaffairs'
}
$downloadpdf = 'http://www.mediafire.com/file/41w1e3qblfav7ok/4.Retrospective_taxation.pdf/file'
$tags = '<a href="https://currentaffairs.studyiq.com/tags/bills-laws">Bills & Laws</a>'
include - ROOT/plugins/Studyiq/src/Template/Pages/tagdetails.ctp, line 161
Cake\View\View::_evaluate() - CORE/src/View/View.php, line 1196
Cake\View\View::_render() - CORE/src/View/View.php, line 1157
Cake\View\View::render() - CORE/src/View/View.php, line 765
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 623
App\Controller\PagesController::tags() - APP/Controller/PagesController.php, line 995
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 440
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 119
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 93
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 108
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 104
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 98
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65