Nokia India fined by tax officials: Reuters

Earlier this year Nokia’s Chennai manufacturing facility was raided by Income Tax officials allegedly for evading tax. Nokia filed a letter of objection against the Tax raids, but was still asked to pay Rs 13,000 crore before March 31. According to a report on Reuters, Indian tax officials have slapped a fine on the Finnish mobile phone maker, although the Delhi High Court issued a stay on the demand.

According to the authorities of the Rs 13,000 crore, Rs 3,000 crore is solely for tax evasion issues and Rs 10,000 crore is for evaded paying service tax for royalty paid to Nokia Oyj for software that goes into phones manufactured in India.

A statement issued by Nokia said, “Nokia reiterates its position is that it is in full compliance with local laws as well as the bilaterally negotiated tax treaty between the governments of India and Finland, and will defend itself vigorously”.

    Gadgets API returns Empty Value