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

Tablo DVR

With over-the-top content options growing past Hulu and Netflix, consumers may be finding it harder to justify paying a monthly fee fo ...

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Sponsor

toggle

Most Commented

 
toggle

Popular News