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Nokia suspected of tax manipulation in India, begging the question if it cannot pay taxes in India what does it want?

Tuesday, 08 January 2013
Finnish telecoms giant, which is struggling to maintain into leading position has come under scrutiny accused of tax manipulation in India, a low cost country which would have meant that low taxes would means the ability and the willingness to pay.

Reports hold that tax authorities in India are suspecting that Nokia at one of its largest factories in the city of Madras (Chennai) withheld $ 540 million, equivalent to Skr3.5 billion in taxes.

Reports hold that India's Finance Minister, Chidambaram has promised decisive action against tax evasion. Last fall, it emerged that an Indian subsidiary of the confectionery manufacturer Cadbury also was under investigation for tax issues.

It is strange that companies rush to low tax countries to escape what they described as high taxes in their home countries. There they still fail to pay taxes. What do the big companies really want?
by Scancomark.com Team

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