CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Indian Court Gives Nokia Breathing Space In Evasion Case

Indian Court Gives Nokia Breathing Space In Evasion Case

by Mary Swire, Tax-News.com, Hong Kong

01 April 2013


Finnish mobile phone manufacturer Nokia has said that it will "defend itself vigorously" against tax evasion claims made by the Indian Government.

The assertion came as the Delhi High Court stayed a tax notice requiring Nokia to pay INR20bn (USD368m) within five days. The bill relates to taxes allegedly owed over a six year period beginning in 2006/07. Nokia is disputing the Income Tax Department's decision to impose a five day deadline, as the usual payment period is 30 days.

The offices and factory of the company's Indian subsidiary were raided in January as part of a so-called "survey" operation by the Income Tax Department. Nokia issued a statement at the time stressing that it was "fully cooperating with authorities to ensure they get the necessary information to help in their inquiry."

According to the court's ruling, Nokia must not transfer or remit any funds outside India until the next hearing. This exempts any transfers made in the normal course of business. The Income Tax Department was ordered to file a counter-affidavit within one week.

A spokesperson for Nokia said of the case: "Nokia confirms it has received an order from Indian tax officials. Nokia reiterates its position 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."

TAGS: court | compliance | tax | business | tax compliance | India | tax avoidance | law | tax planning | Finland | revenue statistics

To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »