Tuesday, June 18, 2024
English English French Spanish Italian Korean Japanese Russian Hindi Chinese (Simplified)

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.

Subscribe

* indicates required

The Enterprise is an online business news portal that offers extensive reportage of corporate, economic, financial, market, and technology news from around the world. Visit to explore daily national, international & business news, track market movements, and read succinct coverage of significant events. The Enterprise is also your reach vehicle to connect with, and read about senior business executives.

Address: 150th Ct NE, Redmond, WA 98052-4166

©2024 The Enterprise – All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept