Nokia protests new $414 million tax claim in India

Finland's Nokia, presently entangled in associate Indian Supreme Court tax case, aforesaid on Friday it's received a replacement three hundred million monetary unit (250 million pounds) excise tax bill from province, a claim it thought-about "absurd". According to the corporate, authorities within the southern state had alleged that handsets from Nokia's metropolis plant weren't exported however instead oversubscribed in Bharat. product exported from Bharat square measure exempt from tax.

"Nokia considers the claim to be utterly while not benefit and counter to domestic tax laws," a corporation voice aforesaid.Nokia aforesaid it had filed a instrument with the Madras court in metropolis to contest the claim from Tamil Nadu's tax department and expected a hearing on the case next week.It conjointly pushed aside suggestions the new case would complicate its five.4 billion monetary unit deal to sell its phone business to Microsoft house.Nokia has aforesaid it expects to shut the Microsoft deal by the tip of this month.

India's Supreme Court, in a very broader tax dispute concerning the metropolis plant, last week ordered the Finnish company to offer a thirty five billion Indian rupee ($571 million) guarantee and waive a number of its rights to legal defence before it transfers the mill to Microsoft.The company voice aforesaid Nokia was still considering its choices over the Supreme Court ruling concerning the plant, one amongst its biggest telephone set factories.Nokia's disputes follow many high-profile tax cases involving foreign corporations in Bharat. Vodafone cluster, IBM and Royal Dutch Shell square measure among foreign teams contesting native tax claims.