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VZ » Topics » International Taxes

This excerpt taken from the VZ 10-Q filed Oct 28, 2008.

International Taxes

Based on Vodafone Omnitel N.V.’s (Vodafone Omnitel) financial position and distributable reserves, the shareowners of Vodafone Omnitel began considering scenarios for potential future distributions from Vodafone Omnitel in the third quarter of 2007. As a result, Verizon recorded $471 million of taxes in the third quarter of 2007 on its share of Vodafone Omnitel’s earnings that were no longer considered indefinitely reinvested internationally. Distributions from Vodafone Omnitel were subsequently approved and paid in December 2007 and April 2008.

This excerpt taken from the VZ 10-Q filed Oct 30, 2007.

International Taxes

Verizon’s share of Vodafone Omnitel N.V.’s (Vodafone Omnitel) distributable reserves is approximately $2.5 billion. Based on Vodafone Omnitel’s financial position and distributable reserves, during the third quarter of 2007, the shareowners of Vodafone Omnitel have begun considering scenarios for possible distributions over the next twelve months. As a result, we recorded $471 million for taxes that would be payable as a result of these possible distributions as they are no longer considered indefinitely reinvested.

EXCERPTS ON THIS PAGE:

10-Q
Oct 28, 2008
10-Q
Oct 30, 2007

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