India tax officials raid Nokia facility

The company has confirmed it is cooperating with an investigation by the tax authorities in India, but it is unclear exactly what they were looking for.

 

 A Nokia facility in Chennai, India, was raided today by the tax authorities of the countries.

According to Reuters, which was the first to report the incident, Nokia confirmed to the news agency that an attack took place in an office in the city of South India and the company is cooperating with the investigation but declined to give further details. An Indian tax official told Reuters that the attack relates to allegations of tax fraud against smartphone maker.

 The default tax believed to be about 30 billion rupees ($ 543 million), the official told Reuters.

 Technology companies common to find legal ways to save taxes on international markets. Apple, for example, reported in November that paid less than 2 percent tax on profits generated outside the U.S. Google has also found a way to protect their profits.

 The nature of the investigation of Nokia India is not presently known. CNET has contacted Nokia for details on the investigation. We will update this story when we have more information.

Advertisements

4 thoughts on “India tax officials raid Nokia facility

  1. This is the perfect blog for anyone who wants to know about this topic. You know so much its almost hard to argue with you (not that I really would want…HaHa). You definitely put a new spin on a subject thats been written about for years. Great stuff, just great!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s