Nokia Manufacturing Plant in Chennai Raided for Tax Evasion
CHENNAI, India – Finnish mobile maker Nokia has come under trouble from the revenue department of India.
The company’s manufacturing plant located in Chennai, India, has been raided by the Income Tax officials under the suspicion of tax evasion. As per the report by the Economic Times, IT sleuths suspect tax evasion by Nokia for up to $542 million (Rs. 3000 Crores). The raid was performed by over 20 IT officials. Officials alleged that Nokia hasn’t paid tax in India and this resulted in the raid.
A few months ago Google India faced a similar crisis when tax authorities accused the search engine giant of evading taxes. There were speculations that the search giant might be fined up to $14 million for misrepresenting its accounting information.
In a statement to The Next Web, Nokia said that it is fully cooperating with the investigation and its operations in the Chennai plant remain unaffected. While the company gears up for the launch of the Nokia Lumia 920 in India, the news of the IT raid comes as a minor setback.