India orders Samsung, its executives to pay $601 million in back taxes and penalties for telecom imports: Report – The Times of India
The tax demand constitutes a significant portion of Samsung’s net profit in India, which stood at $955 million last year. (AFP Photo) India’s tax authorities have demanded Samsung and its local executives to pay $601 million as back taxes and penalties for allegedly evading tariffs whilst importing essential telecommunications equipment, a Reuters report says. This…