Nokia protests tax probe in Chennai, India as excessive
HELSINKI Feb 12 (Reuters) - Finnish phone maker Nokia said on Tuesday it was protesting against a tax investigation by authorities in Chennai, India, calling the probe that began in January excessive and unacceptable.
Nokia said it has not yet received any information on potential tax claims, but said it sent letters objecting to the authorities' actions including entering its factory premises.
"As a company with operations around the globe, Nokia believes the actions of the Income Tax authorities in Chennai are excessive, unacceptable and inconsistent with Indian standards of fair play and governance," Nokia said in a statement.
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India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. Full Article