India Overturns Nokia (NOK) Appeal on Tax Claims
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Nokia Corp (NYSE: NOK) shares are lower Friday following news that its appeal to overturn a tax ruling was dismissed.
According to reports, Indian authorities dismissed an appeal by Nokia over an income tax demand of 20.8 billion Indian rupees (about $370 million).
The demand was served to Nokia last March and accounts for accumulation of taxes over five years, from 2006/2007 through 2011/2012.
Nokia said it would examine all options following the verdict. Shares are down 1.2 percent early.
According to reports, Indian authorities dismissed an appeal by Nokia over an income tax demand of 20.8 billion Indian rupees (about $370 million).
The demand was served to Nokia last March and accounts for accumulation of taxes over five years, from 2006/2007 through 2011/2012.
Nokia said it would examine all options following the verdict. Shares are down 1.2 percent early.
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