Tax demands to Nokia may cross Rs 10K crore

New calculation is based on the penalty component on non-payment of taxes due under copyright.

Written by PTI | New Delhi | Published: December 7, 2013 2:51 am

The Income Tax department may raise a total demand of over Rs 10,000 crore against Finnish mobile manufacturer Nokia which is embroiled in an alleged tax evasion case ahead of its global takeover by Microsoft.

The department has calculated and arrived at the figure and may raise two separate demands to the tune of Rs 4,560 crore and Rs 6,008 respectively on Nokia Corporation and Nokia India,official sources said.

The media has been reporting a tax demand of Rs 6,500 crore on Nokia and the company had made an offer of deposit of Rs 2,250 crore to the government in the Delhi High Court earlier this week.

Asked for its comments,the company said “we have not been served with any official claim,so we cannot comment on this.” The company said,“We want to stress that our main focus right now is to remove the freeze on our Indian assets,including Chennai,before the deadline of December 12. This is a separate matter from the broader tax dispute.”

The new calculation is based on the penalty component on non-payment of taxes due under “copyright” related businesses of the firm and is “over and above” the original calculated amount.

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