The usual suspects

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EternalOptimist replied

21 May 2013, 10:37
Indias Beef - ho ho ho

"Infosys is already facing a hefty Rs11.8bn (£140m) bill for the four fiscal years preceding 2009-10.

The Indian government’s beef appears to be with the value of deductions the firm made. Meanwhile in Pakistan, Pork Barrel politics are undermining their own tax revenue and it's only new gas finds off the coast that have saved Israels bacon. The UK is not immune from the problem. A spokesperson for Findus has said that this is Horses for courses "
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vetran started a topic The usual suspects

21 May 2013, 08:37
The usual suspects

Infosys vows to fight Indian tax claim ? The Register

Infosys is already facing a hefty Rs11.8bn (£140m) bill for the four fiscal years preceding 2009-10.

The Indian government’s beef appears to be with the value of deductions the firm made. Expenses in foreign currency were apparently reduced from export turnover, but not reduced from total turnover, meaning Infosys effectively claimed too much in deductions from its tax bill over the period.

The company is by no means alone in being targeted by the tax authorities in India.

Nokia received a visit from the tax man back in January this year and was slapped with a Rs.13,000 crore (£1.5bn) bill for tax violations and transfer pricing irregularities.

Meanwhile, Google, which is under the microscrope in various countries around the world, received a Rs76 crore (£8.7m) fine in November last year for allegedly misleading the Indian government and violating accounting rules.

Vodafone has also been locked in a protracted battle with the authorities over £1.4bn worth of capital gains tax it is said to owe on its acquisition of Hutchison Essar back in 2007. ®
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