Most international investment agreements do not exclude taxation from their scope, which means that a wide range of tax-related measures are covered by them.
Canadian mining company First Majestic Silver Corp submitted a request for arbitration based on NAFTA, due to the tax debt and its differences with the Mexican government.
The move signals the government’s resolve to defend its sovereign rights in taxation. The government has kept open possibility of settling the dispute within existing Indian laws.
Cairn Energy has filed a case in a US district court to enforce a $1.2 billion arbitration award it won in a tax dispute against India, a court document showed, ratcheting up pressure on the government to pay its dues.
For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout.
UK-based Cairn Energy Plc has threatened that it may be forced to begin attaching Indian assets including bank accounts in different world capitals, unless the government resolves the issue.
Investors have written to the Indian government as well as the governments of the US and UK seeking adherence to the award of a tribunal at the Permanent Court of Arbitration in The Hague
The battle between ConocoPhillips and Vietnam result could mark a significant shift in the way huge multinationals fight off the threat of taxes from desperate revenue authorities in developing countries.
El banco informó al ejecutivo, fiscalía y corte suprema que de no obtener respuesta a una solicitud de Amparo en el caso que perdió ante José Salaverría, iniciará un proceso contra el país.