Tax officials inspect Nokia factory in India

Finnish phone giant Nokia said Tuesday Indian tax authorities had visited a manufacturing unit in the southern Indian city of Chennai, without giving further details.

"Earlier today, tax authorities visited Nokia's manufacturing unit in Chennai. We are fully cooperating to ensure they get the necessary information to help in their inquiry," a Nokia spokesman said in a statement.

"We always observe applicable laws and rulings in the countries where we operate," the Finnish handset maker added.

India -- one of the world's fastest growing mobile phone markets -- is Nokia's second largest market, with the Chennai factory producing over 20 different models for the company.

Chennai's chief income tax commissioner S. Senthamarai Kannan told reporters officials had conducted a "survey" of Nokia's factory, suspecting tax evasion of about 30 billion rupees ($545 million), media reports said.

Nokia is not the only multinational firm facing a tax probe in India.

British mobile network firm Vodafone received a fresh notice last week from Indian tax officials stating it owes more than $2 billion in taxes on its 2007 purchase of a stake in a domestic telecommunications company.

Vodafone maintains it is not liable to pay any tax on the transaction.

In November, an Indian minister said in parliament that the country is probing a local unit of candy giant Cadbury for evading millions of dollars in taxes.

India's finance minister, P. Chidambaram, has vowed to clamp down on tax evasion to help to lower the country's wide fiscal deficit.

Loading...

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • NCCA plans to conduct mapping of Pag-Asa Island
    NCCA plans to conduct mapping of Pag-Asa Island

    The National Commission for Culture and the Arts (NCCA) plans to send researchers to conduct a cultural mapping of Pag-Asa Island, which is part of Philippine-held territories in the disputed Spratlys in the West Philippine Sea. Harold Rentoria, NCCA committee on cultural heritage commissioner, admitted that since two years ago they have been thinking of going to Pag-Asa Island for their cultural mapping project. Cultural mapping is part of the NCCA program Taoid – the Ilocano word for …

  • No CNN interview for senators in ‘pork’ scam
    No CNN interview for senators in ‘pork’ scam

    Cable News Network (CNN) Philippines has been denied a chance to interview detained Senators Juan Ponce Enrile, Bong Revilla, and Jinggoy Estrada, a Sandiganbayan justice said yesterday. Sandiganbayan Presiding Justice Amparo Cabotaje-Tang told The STAR CNN’s request for an interview with the lawmakers, who are being held without bail at Camp Crame, will not be allowed as such may violate a rule preventing parties to an ongoing trial from discussing the merits of the case. CNN Philippines had …

  • Tropical depression intensifies into storm
    Tropical depression intensifies into storm

    The tropical depression expected to enter the Philippine area of responsibility on Thursday has intensified into a storm, the state weather bureau said yesterday. Noul, which will be locally named Dodong once it enters the Philippines, packed winds of 75 kilometers per hour near the center and gustiness of up to 90 kph. …

  • PNP to car buyers: Demand LTO plates
    PNP to car buyers: Demand LTO plates

    Those who plan to buy new cars should make sure their car dealers give them their Land Transportation Office plates as soon as possible to avoid being targeted by car thieves, the Philippine National Police (PNP) said yesterday. Senior Superintendent Arnold Gunnacao, director of the PNP-Highway Patrol Group (HPG), said car theft syndicates are particularly interested in stealing brand new sport utility vehicles (SUVs) with conduction stickers serving as temporary license plates. …

  • SE Asia Stocks-Mixed; Indonesia and Philippines end losing streak

    JAKARTA, May 4 (Reuters) - Southeast Asian stock markets traded mixed on Monday with stocks in Indonesia and Philippines rebounding after a recent bout of weakness. The Indonesian stock index closed up ... …

  • 2 coast guard men, village chief, abducted in Philippines

    MANILA, Philippines (AP) — Police say gunmen clad in military uniform have abducted two Philippine coast guard personnel and a village chief on a southern island then sped away in two motorboats. …

  • Filipino on US most wanted list killed: rebels, military
    Filipino on US most wanted list killed: rebels, military

    A Filipino on the United States' list of most wanted "terrorists" has been killed in a firefight in the southern Philippines, Muslim rebel leaders and the military said Monday. Abdul Basit Usman was killed in a remote mountainous area while being escorted by members of the Moro Islamic Liberation Front (MILF), the nation's biggest rebel group, its vice chairman Ghazali Jaafar said. Security forces had been hunting Usman since he escaped from a January police raid that killed Malaysian …

  • SE Asia Stocks-Mixed; Indonesia ends 7-day losing streak

    JAKARTA, May 4 (Reuters) - Southeast Asian shares mostly traded mixed on Monday, with Indonesia and the Philippines rebounding after a recent bout of weakness. Indonesian stock index rose 1.3 percent after ... …

POLL

Should Aquino be held accountable over the Mamasapano operations?

Loading...
Poll Choice Options