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Nokia's tax problems in India could force them out of the country

Nokia threaten to pull out of India over its continued tax problems (NYSE:NOK)

| Business, Financial & Legal News | Posted: Aug 24, 2013 3:35 pm

Nokia is experiencing a tax problem in India, and is now threatening to pull its entire manufacturing business out of the country. Indian authorities recently raided one of Nokia's factories after allegations of the Finnish company not paying as much as $542 million in taxes to the Indian government.

 

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Nokia laughed the bill off, and is continuing to laugh in a letter to India's Ministry of Commerce & Industry, where it said: "India has suddenly become the least favourable market. The political risk of operating in India [is] suddenly substantially higher and may inevitably influence future decisions to develop one's operations in India."

 

If Nokia do indeed move some of its operations out of India, rumor has it the business would shift to China.

NEWS SOURCES:Bgr.com

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