Update: Nokia Corporation has sent letters of complaint to Indian tax authorities saying that tax officials in January raided its manufacturing facility in Chennai without giving a reason suggesting that this was illegal, reports Foxbusiness. Nokia also claimed that the raids were not run in accordance to Indian laws and International laws and found the actions to be excessive, unacceptable and inconsistent with the domestic laws. Nokia also claims that its transfer pricing policies are in accordance to the Indian and Finnish laws, as indicated by the report. Update (January 9, 2013): According to a report by The Hindu, the Income Tax department has asked Nokia India for a clarification on non-payment of 'tax deducted at source' (TDS) on software supplies and on change in accounting model. The IT Department in an official release said that a survey was carried out at the Nokia India factory, Sriperumbudur, and at the company's Corporate office premises in Gurgaon, under Section 133A of the Income-tax Act, 1961, in which 'certain issues were identified and some important evidences that had a bearing on the tax implications of the company were impounded', as per the report. It points out that Nokia India was sending its parent company Nokia OYJ, payments for software supplies since 2005, which attracted TDS as per the IT Act. However, Nokia did not deduct any TDS on these payments. Indian Income Tax officials conducted tax raids on Nokia India's Sriperumbudur (TamilNadu) plant and offices in Chennai, according to a report by The Times of India. The report quotes…
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