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The Indian affiliate of global accounting firm PricewaterhouseCoopers was quizzed by tax authorities looking into possible tax evasion by Finnish phone maker Nokia.
Indian tax men raided Nokia's production unit in Chennai, one of the company's biggest facilities. According to the Indian government the investigation related to allegations that Nokia may have evaded around $55 million in taxes. Nokia has said it was cooperating with the probe.
PwC's arm in India both audits and provides tax advice to Nokia. Auditor independence standards in India allow firms to both audit and provide tax advice to the same client, he added. Meanwhile British telecommunications carrier Vodafone Group is also being pressed for payment of $2 billion in disputed taxes in India on its 2007 acquisition of mobile telecom assets.
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Nick Farrell
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