Nokia Disputes $368M India Tax Bill
MUMBAI, India (AP) -- Mobile phone manufacturer Nokia says it is disputing a $368 million bill levied by tax authorities in India.
The Finnish company's India arm said Thursday 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 New Delhi High Court has stayed the fine pending the appeal by Nokia.
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.