As a part of the ongoing tax dispute with the Indian authorities, Nokia has agreed to pay a minimum of Rs 2,250 crore as tax, The Hindu reports. This comes after the Finnish company appealed to the Delhi High Court yesterday to unfreeze its Chennai manufacturing factory to clear way for Microsoft acquisition. Also Read - Nokia C30 budget phone launched with price under Rs 10,000: Check specs, price
The company submitted a statement to the HC promising that the tax amount will be paid as soon as the $7.2 billion deal with Microsoft is completed. Nokia also added that the amount of Rs 2,250 crore could go up depending upon the final sale price. In return, the company has again asked the court to consider unfreezing its Chennai factory to help the acquisition go through smoothly. Also Read - Nokia XR20 rugged 5G phone launched: Check specs, price, India launch details
Nokia’s statement to the court read, “Immediately after sale, irrespective of the sale price, we will deposit Rs 2,250 crore. If the sale price is much higher, we will deposit the entire surplus after adjusting outstanding liabilities, excluding income tax liabilities.”
According to the report, the Income Tax department responded to the statement saying that the tax liability on Nokia is actually in the tune on Rs 6,500 crore. The court also ruled that any tax liabilities would be transferred to the successor in case of a sale, which could put a huge obstacle in the acquisition process.