think about jobs lost. than possible tax money lost and than think about who gains from it. indian local government is stupid and should allow acquisition and asking for tax in advance makes no sense.
guys think that company earning lot....paying low salary and earn lot... if they pay tax our home town get some benefits
the current government is a sick government 4 sure, according 2 their act.
Dirty indian government, changing rules purposely to demand 10x tax amount, buy they're screwing almost 50000 homes if Nokia packs off
jakhar, 17 Apr 2014Nokia is no fool that they have paid the taxes so it means it need to be paid also India wants... moreso in other words, everyone in your country should immediately pay $500,000 in tax to their government right now because they're after money. but don't worry too much about future tax as a "portion" of of the amount owed will be deducted from the $500,000 you advanced (less government accounting and administration related fees of course). this, even if you get an offer to work and reside in a different country in 6 months time.
Guys, its nothing to do with Indian politics.
Nokia had the license to manufacture handset and export it out of India, but they don't have the license to sell the products in India which they manufacture in Chennai plant. Nokia evaded it since 2006. Income tax department is asking for the tax assurance before the Microsoft deal, as IT cannot get is tax if MS deal is made and company is changed.
Its a lesson for all foreign investors. Its the law in India. Similar laws are in every country. Nokia cannot play these games in European markets. If Nokia have paid the taxes properly then it won't be in the miserable situation. If they have to do business then they have to follow the rules of the country, else just pack off.
Nokia is no fool that they have paid the taxes so it means it need to be paid also India wants advance tax for assurance not bribe because they cheated in past and that advance tax will be deducted from taxes in future,so there isn't any thing wrong in it.
Nokia contact me to have a holding company in mauritius. Al tax issues will vanish.ll
I don't see any financial company giving a documented paper that it will cost Nokia up to $1 billion dollars? Could you post a link?
This is clear case to evade taxes . Whenever Govt's of emerging countries try to collect the dues ,these unethical corporations will start threatening and raise big noice on their investments, bribes etc etc
Let them understand India is no longer a western slave and not a third world where they can just come and do business at their own terms. Tamil Nadu State Govt is strng and Nokia has to pay need to pay the dues or clarify in courts
Buddy, 17 Apr 2014That's Indian Govenment. No accountability about the 7 billion. However the ministers still ha... moreVery well said, but people in India are scared to face or take action against the corrupted leaders. This is the reason we are still a developing country.
India changed the tax law retroactively in 2011 with the specific goal of entrapping Nokia into tax liabilities that never existed before. After the tax law change, they raided Nokia and said...oh look you cheated on your tax for the prior ten years (which Nokia did not as they were in full compliance with the existing laws during those 10 years)...so lets see with penalties which are 10x the tax amount....hmm that amounts to everything you have. They've used this same trick against Vodafone and other companies, it's just not Nokia...even after Vodafone won at the supreme court, they went back and changed the tax laws a second time to allow them to continue persecuting that business.
That is blatant theft, nationalization, a major miscarriage of justice, and all around thuggish and criminal behavior Even the mafia acts in a more reasonable and transparent manner by comparison.
As for idiots, it's self evident. India's stupid arrogance makes it think it can get away with these criminal expropriation and thefts, but no foreign business will ever invest in this cesspool of a country ever again. They are killing their own future, you can't get more asininely idiotic than that. More to the point, it is pissing away 35,000 jobs and msft as a future corporate citizen and a huge tax revenue base in exchange for years of litigation...at the end of which it will get nothing but a hollowed out building and a reputation for self-immolating stupidity.
India's reputation wont be able to survive this....talk about an own goal...stupidest government move in history of business; thinks its so clever with the 'retroactive' tax law changes and the tax exctortions...but guess what, it just made itself irrelevant for the 21st century.
and it thinks to stand up to china? yah right.
nokia got the tax benefits for producing the phones for exports but it sold the same products in India itself at higher rates than export rates and didn't forfeit the subsidy received.
first they do the wrong then blame the government for the same.
India is country of big political sharks, and no body progress in India without giving sizeable share to these peoples otherwise you will find caught between different issues, at the end you will free after paying so many taxes and again some under hand to these people.
So the moral is you have to pay to work,to do bussiness and even to live here.