Printed from http://www.electronista.com

Nokia factory in India raided over unpaid $542M tax bill

updated 06:17 pm EST, Tue January 8, 2013

Team of 20 officials raid factory, operations continue unhindered

A factory in India that makes Nokia phones has been raided by tax authorities, according to reports. The Finnish mobile phone manufacturer's factory in Chennai was raided by 20 officials, with authorities claiming that taxes amounting to 3000 Crore INR ($542 million) have not been paid by the company to the Indian government.

A spokesperson and two factory employees confirmed the raid to the Economic Times, with the Nokia representative at the factory telling the publication "Yes, raids are on. I will call back." A statement from Nokia received by The Next Web claimed that the "operations in Chennai are continuing unaffected," continuing "Nokia's commitment to being a good corporate citizen is firm and unwavering: we always observe applicable laws and rulings in the countries where we operate."

Nokia has been suffering financially over the last few years, with its cash stockpile shrinking from $11 billion five years ago to $2.7 billion in May last year. Cost cutting efforts have seen the company restructure, shedding 17,000 jobs and closing factories, and has also carried out the sale and lease-back of its headquarters in Espoo, Finland.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Samsung Galaxy S 5

The Samsung Galaxy S5 might be the phone that Android users have been craving for some time. Information coming out of Mobile World Co ...

STM Trust technology bag

The search for a good messenger bag that doubles as a laptop bag is something many travelers find themselves facing at least once. Bet ...

PenClic Bluetooth mouse

Windows 8 aside, computer users have been trained that a mouse is the proper way to navigate through the desktop for many years now. T ...

Sponsor

toggle

Most Commented

 
toggle

Popular News