Nokia now facing $1.1B tax bill in India – report

first_img Author WhatsApp sues India over new internet regulations Nokia scores Philippines 5G deal with Dito Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight…More Read more AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 11 DEC 2013 Ken Wieland Previous ArticleBharti Airtel, Reliance Jio strike network sharing dealNext ArticleFCC in-flight call plan meets political and public opposition Home Nokia now facing $1.1B tax bill in India – report Tags Nokia makes AI move with Microsoft India’s authorities are threatening Nokia with a tax bill of around $1.1 billion – three times as much as the Finnish supplier was previously willing to pay to settle a dispute – according to a Financial Times (FT) report.  Nokia’s Chennai factory, one of the company’s biggest phone-making plants, was seized by the country’s authorities in September – around the same time as news broke that the Finnish company agreed the sale of its Devices & Services unit to Microsoft.The drastic action was taken against the backdrop of an investigation by India’s revenue department into a INR23 billion ($375 million) claim related to payments made by Nokia’s Indian subsidiary to its parent company in Finland.Nokia is reported to have offered at least €355 million to India’s tax authorities to settle the dispute, enabling the asset transfer to Microsoft.However, “two people familiar with the situation”, according to the FT, confirmed that India’s revenue department now expects to raise a further tax claim of INR45 billion.The sum relates to alleged non-payment of similar taxes on international transfers to its parent (which stretch over a longer period of time than when the INR23 billion fee was calculated).An Indian court will announce on 12 December its verdict on Nokia’s appeal against the seizure of the Chennai factory, according to Reuters. Related FinancialIndiaMicrosoftNokiaRegulatorylast_img read more

Davorin Štetner invested in a great tourist story – Unique Travel set

first_imgPoznata domaća modna inovatorica i poduzetnica Katarina Džale i poduzetnica Rašeljka Maras, osnažile su osnivački tim s predsjednikom Hrvatske mreže poslovnih anđela (CRANE) Davorinom Štetnerom u daljnjem razvoju projekta pod nazivom Unique Travel Set.Davorin Štetner entered the project as a partner providing additional strength and support to an already successful team that designs and creates functional travel clothing. “Although I did not plan this investment, the girls won me over with their product and clear strategy. These are experienced entrepreneurs with several successful projects behind them and that attracted me the most” Stetner explained the reasons for his entry into the Unique Travel Set.Photo: Crane.hrThe Unique Travel Set is a unique product on the global market, consisting of seven garments for women, which by combining with each other provide comfort, elegance and functional styling for most travel occasions of a few days. The set consists of two types of pants, a dress, a T-shirt, a hat, a belt and removable sleeves, and the total weight of the package is 1,3 kilograms, which makes it an ideal item of clothing for travel. By using one set of clothes, it is possible to spend a few days in different combinations of a set that is resistant to creasing and sweating.The set consists of two types of pants, a dress, a T-shirt, a hat, a belt and removable sleeves, and the total weight of the package is 1,3 kilograms, which makes it an ideal clothing item for travel.”This product was created as a result of my many years of working with women as a fashion designer, where I realized that we all have the same problem, and that is how to pack for the trip so that we have everything with us, so that clothes do not crease and sweat . The result is the Unique Travel Set, a product that is a solution for all women who want to travel comfortably and peacefully, without worrying about luggage, weight of suitcases and carrying too heavy a suitcase”, Added Xhale, the creator of the set. The product was developed a year ago in Croatia, where it is made from the highest quality fabric, and has been tested on more than 50 women around the world over the past period. With their comments and feedback, they enabled a significant improvement of the product itself and its function.Unique Travel Set goes on sale early next year, and the product will be managed by the newly established American company Travel Fashion Lab Inc. owned by Katarina Džala, Rašeljka Maras and Davorin Štetner, with the aim of conquering the global travel clothing market.last_img read more