Nokia Offices Raided by Indian Tax Officials
Published on: 8th Jan 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Nokia's Indian offices have been raided by the country's Income Tax Department investigating allegations of tax evasion.
Local news reports said that the company's offices in the Tamil Nadu capital were inspected, and other offices around the country are due to be visited.
When contacted, a Nokia spokesperson said in a statement to the Press Trust of India said, "Earlier today, tax officials visited Nokia's manufacturing unit in Chennai. Nokia is fully cooperating to ensure they get the necessary information to help in their inquiry."
"We always observe applicable laws and rulings in the countries where we operate. This has been a core principle of our operations in India, where Nokia has been present since 1995."
Sources told the Economic Times that the tax officials are looking for some alleged mismatch in payments made by the company under the Tax Deducted at Source (TDS) category.
A team of about 30-40 investigators are involved in the operation, sources said.
On the web: Economic Times