Over the past few months we’ve reported on the various financial problems Nokia has faced, including selling its giant campus in Espoo. It looks like trouble continues to plague the Finnish company, as a factory in Chennai, India has reportedly been placed under investigation for back taxes to the tune of $542 million. Despite the investigation it doesn’t look like the factory is being shut down, so there probably won’t be a supply shortage for any of Nokia’s handsets as a result of this. Nokia’s statement is as follows:
Earlier today, tax officials visited Nokia’s manufacturing unit in Chennai. Nokia is fully cooperating to ensure they get the necessary information to help in their inquiry. Our operations in Chennai are continuing unaffected.
As a global company, Nokia consistently fields a large and steady number of tax queries, audits and assessments. Nokia’s commitment to being a good corporate citizen is firm and unwavering: we always observe applicable laws and rulings in the countries where we operate. This has been a core principle of our operations in India, where Nokia has been present since 1995.