Nokia Disputes $368M India Tax Bill
MUMBAI, India (AP) — Mobile phone manufacturer Nokia is disputing a $368 million bill levied by tax authorities in India, the Finnish company said Thursday.
Nokia Corp.'s India unit said it will "defend itself vigorously" and is "in full compliance with local laws as well as the bilaterally negotiated tax treaty between the governments of India and Finland."
The Delhi High Court issued a ruling last week staying the fine pending the appeal by Nokia, the company said.
The hefty tax bill follows a January raid on Nokia's Chennai factory. Local media have reported that authorities levied the 20 million rupee ($368 million) fine after contending that Nokia evaded a 10 percent tax on royalties of software downloads from its parent company.
Nokia, which has invested some $330 million in Chennai since arriving in India 17 years ago, says it "remains willing to cooperate fully with Indian tax authorities."