Nokia has agreed to pay part of the Rs 4,000 crore claimed by the tax authorities as an interim measure. At the same time, in its compromise formula, the company has urged the Government to revoke the Tax Department’s order to freeze its assets before December 12, the deadline for Nokia to transfer its global mobile phone assets to Microsoft. With the tax authorities freezing all the immovable assets of Nokia in India, the company’s factory in Chennai will be left out of the transition process unless the order is revoked.

Source : http://www.thehindubusinessline.com/todays-paper/nokia-offers-to-pay-part-of-rs-4000cr-tax-demand/article5377717.ece

 

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