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India asks IBM to pay $866 million in outstanding tax: reports


Indian tax authorities have asked IBMs Indian unit to pay 53.57 billion rupees ($866.20 million) in outstanding income tax on fiscal 2009 revenue, media reported on Saturday. 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. Indias Income Tax office issued the company 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 departments claims and will aggressively defend itself through the appropriate judicial process, the IBM India spokeswoman said.

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SUNDAY, MAY 20, 2018



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