Tuesday, 25 Jan, 2022

Tech

India asks IBM to pay $1bn in outstanding tax

ICT Desk |
Update: 2013-11-02 08:42:16

DHAKA: Indian tax authorities have asked IBM’s Indian unit to pay 53.57 billion rupees in outstanding income tax on fiscal 2009 revenue.

Media reported on Saturday, says The Straits Times.

In an emailed statement, an IBM India spokeswoman confirmed the company had received a tax notice, but declined to comment on the amount of tax liability or the nature of the notice.

India’s Income Tax office issued the company with a notice for under-reporting revenue for fiscal 2009 by the Indian unit, the Business Standard newspaper said, citing a tax official.

‘IBM does not agree with the tax department`s claims and will aggressively defend itself through the appropriate judicial process,’ the IBM India spokeswoman said.

BDST: 1841 HRS, NOV 02, 2013
RoR/RIS

All rights reserved. Sale, redistribution or reproduction of information/photos/illustrations/video/audio contents on this website in any form without prior permission from banglanews24.com are strictly prohibited and liable to legal action.