55 Samsung, the South Korean tech giant, is facing a tax evasion investigation in India. The Directorate of Revenue Intelligence (DRI) has issued a show cause notice to Samsung India, accusing the company of evading taxes worth Rs 1,728.47 crore (approximately $235 million). According to reports, DRI has accused Samsung India Electronics Ltd (SEIL) of misclassifying networking devices, known as remote radio heads, in order to claim undue exemptions on basic customs duty. The DRI has also issued a show cause notice to PricewaterhouseCoopers Pvt Ltd (PwC), a Gurgaon-based business service provider that was reportedly engaged by SEIL for the classification of network equipment. In response to the notice, a Samsung India spokesperson said, “This is a tax dispute involving interpretation of law. We are reviewing the notice and are exploring legal opinion.” Samsung India and the individuals summoned have 30 days to respond to the adjudicating authority. You Might Be Interested In Maybank IB partners with Broadridge to co-create securities borrowing and lending technology DBS, Univers Collaborate to Drive Net-Zero Solutions in Asia The oil behemoth’s profits decreased by 23% in the third quarter JACCA Demands Liquidation Of Jet Airways’ Assets Rogers and Shaw’s $14 billion merger gets the green light from Canada’s competition tribunal South Korea fines Google $32 million for squeezing out rival
