Govt slaps Samsung with $601 million tax demand for telecom imports

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Govt slaps Samsung with $601 million tax demand for telecom imports

//business-finance.news-articles.net/content/202 .. -601-million-tax-demand-for-telecom-imports.html

Published in Business and Finance on Tuesday, March 25th 2025 at 8:41 GMT by Reuters
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Samsung was ordered to pay 44.6 billion rupees ($520 million), consisting of unpaid taxes and a penalty of 100%

India has issued a tax demand of approximately $601 million to Samsung Electronics for the period from 2010 to 2012, related to the import of telecom equipment. The tax authorities allege that Samsung underpaid customs duties by misclassifying its imports. This action is part of a broader initiative by Indian tax officials to scrutinize multinational corporations for potential tax evasion. Samsung has contested the demand, arguing that it complied with all relevant tax regulations during the period in question. The company is currently evaluating its options, which could include an appeal against the tax notice. This development comes at a time when India is pushing for more domestic manufacturing and reducing reliance on imports, aligning with its 'Make in India' campaign.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/exclusive-india-slaps-samsung-with-tax-demand-of-601-million-for-telecom-imports/ar-AA1BBt0S ]

Publication Contributing Sources

Reuters

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Govt slaps Samsung with $601 million tax demand for telecom imports