Tax raid on Nokia India’s Chennai plant, evasion to the tune of Rs. 3000 crore suspected
The Economic Times reports that there’s a tax raid going on at Nokia India’s plant at Sriperumbudur near Chennai. The team of tax officials are conducting investigations at the plant as well the Finnish company’s offices in Chennai. Officials suspect tax evasion to the tune of Rs. 3000 crore.
Rumors suggest that the investigations will continue till the evening which will might result in halting of production for the day. Employees have confirmed to ET that raids are currently going on and they’ll know within the hour if production is to be halted. The Finland based cellphone manufacturer has been facing tough times over the past few years due to growing competition. It is expected to launch its new Lumia 920 smartphone in India later this week.
[Via – Economic Times]