The Financial Times reported on 11 December 2013 that Finnish mobile phone giant Nokia may be hit with a tax bill totalling $1.1bn, with the Indian revenue authorities threatening to levy further charges.
The Financial Times reported on 11 December 2013 that Finnish mobile phone giant Nokia may be hit with a tax bill totalling $1.1bn, with the Indian revenue authorities threatening to levy further charges. According to the paper, ‘Nokia’s original tax dispute with India’s revenue department concerned a Rs23bn ($375m) claim relating to payments made by Nokia’s Indian subsidiary to its parent company in Finland, a dispute that began this year by a raid on the company’s main facility in the southern city of Chennai.’ However, in a rare piece of good news for Nokia, on 12 December the court in New Delhi ruled Nokia could transfer its Indian assets to Microsoft in as part of the sale of its mobile phone business, but had to deposit Rs22.5bn ($365m) as security against the eventual resolution of the tax dispute.
The Financial Times reported on 11 December 2013 that Finnish mobile phone giant Nokia may be hit with a tax bill totalling $1.1bn, with the Indian revenue authorities threatening to levy further charges.
The Financial Times reported on 11 December 2013 that Finnish mobile phone giant Nokia may be hit with a tax bill totalling $1.1bn, with the Indian revenue authorities threatening to levy further charges. According to the paper, ‘Nokia’s original tax dispute with India’s revenue department concerned a Rs23bn ($375m) claim relating to payments made by Nokia’s Indian subsidiary to its parent company in Finland, a dispute that began this year by a raid on the company’s main facility in the southern city of Chennai.’ However, in a rare piece of good news for Nokia, on 12 December the court in New Delhi ruled Nokia could transfer its Indian assets to Microsoft in as part of the sale of its mobile phone business, but had to deposit Rs22.5bn ($365m) as security against the eventual resolution of the tax dispute.
