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Nokia Oyj Protests Against Tax Investigation in India-Reuters

Tuesday, 12 Feb 2013 05:44am EST 

Reuters reported that Nokia Oyj announced that it was protesting against a tax investigation in India in the latest dispute involving a foreign company's tax. Nokia said it has not received any information on potential claims resulting from the investigation that started in January 2013. The Company objected to officials entering its factory in Chennai, southern India, which is one of its biggest facilities. Nokia announced it has invested over USD 330 million in Chennai since setting up the factory in 2006. A senior Indian tax official announced in January 2013 that the investigation related to allegations that Nokia may have evaded approximately INR 30 billion (USD 558 million) in taxes. Nokia announced that it was in full compliance with local laws as well as a bilateral tax treaty between India and Finland related to withholding tax. 

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