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Wireless

Nokia wins reprieve in India tax battle

Thursday 12 December 2013 | 13:26 CET | News
Nokia has won a crucial reprieve in its tax battle with India's government, with a court in New Delhi ruling that the group can transfer its assets in the country as part of its EUR 5.4 bln phone business sale to Microsoft, reports The Financial Times. However, the court also ruled that the group must deposit INR 22.5 bln as a security against the eventual resolution of the tax dispute, which will continue once the asset transfer is completed.

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Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: India
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