Reviewing govt's show cause notice on tax evasion, says Samsung India

DRI sent Samsung India a show cause notice, accusing it of skirting import taxes by misclassifying networking devices called remote radio heads to avail undue exemption of basic customs duty

Samsung
Samsung
Reuters Bengaluru
1 min read Last Updated : Jan 12 2023 | 1:27 PM IST

Samsung Electronics' Indian unit is reviewing a government notice related to a tax dispute, it said on Thursday, after a media report said a domestic agency accused the company of evading import duties worth 17.28 billion rupees ($212 million).

The Economic Times reported that India's Directorate of Revenue Intelligence (DRI) sent Samsung India a show cause notice, accusing it of skirting import taxes by misclassifying networking devices called remote radio heads to avail undue exemption of basic customs duty.

"This is a tax dispute involving interpretation of law. We are reviewing the notice and are exploring legal opinion," a Samsung India spokesperson said in an email, but did not give further details, including on specifics about the tax dispute.

Besides the Indian unit of South Korea-based Samsung, the DRI had also sent a show cause notice to PwC, which was hired to classify the network equipment, the report said.

PwC and India's finance ministry did not immediately respond to Reuters' request for comment.

($1 = 81.6300 Indian rupees)

(Reporting by Anuran Sadhu and Chris Thomas in Bengaluru; Editing by Savio D'Souza)


 

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :SamsungSamsung Indiatax evasion

First Published: Jan 12 2023 | 1:27 PM IST

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