Vodafone probing 'tax fraud' at Spanish unit Ono

MADRID, SPAIN/LONDON, UK: Mobile phone giant Vodafone said on Monday it was investigating allegations of tax fraud at its recently acquired Spanish unit Ono.
Madrid: Spanish newspaper El Pais says that cable company Ono had failed to declare an amount of VAT. (Image: Enrique Dans, via Wikimedia Commons)
Madrid: Spanish newspaper El Pais says that cable company Ono had failed to declare an amount of VAT. (Image: Enrique Dans, via Wikimedia Commons)

It comes after a recent report in Spanish newspaper El Pais that cable company Ono had failed to declare an amount of value-added tax in alleged fraud before Vodafone's takeover earlier this year.

Vodafone said that as soon as it became aware of the issue, the company "instigated a forensic audit to investigate the facts relating to the alleged fraud".

"As this matter remains under investigation, we cannot comment further," it said.

The British firm purchased Ono for €7.2-bn ($9.13bn).

Source: AFP, via I-Net Bridge


 
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