Nokia sent a letter to India’s commerce ministry threatening to leave the country because of Indian taxes. The letter said that the “political risk” in India was increasing due to tax claims from the government. India’s passage in March of a retroactive income tax violates a bilateral treaty between India and Nokia’s native Finland, Nokia says. The company is also irked about India’s refusal to refund 10 years of value added tax refunds that India promised in exchange for Nokia setting up shop in the country.
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Nokia Threatens to Leave India Over New Taxes
Posted by: David Vranicar August 27, 2013 11:02 AMNokia sent a letter to India’s commerce ministry threatening to leave the country because of Indian taxes. The letter said that the “political risk” in India was increasing due to tax claims from the government. India’s passage in March of a retroactive income tax violates a bilateral treaty between India and Nokia’s native Finland, Nokia says. The company is also irked about India’s refusal to refund 10 years of value added tax refunds that India promised in exchange for Nokia setting up shop in the country.