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India’s tax rows will affect future investment in India

India’s tax rows will affect future investment in India

Recently the Indian Government has scrapped conciliation talks with Vodafone, the FT reports that Nokia has appealed to India’s Supreme Court over an unrelated $1.1bn tax squabble while a recent legal decision effectively prevents Nokia from transferring Indian assets as part of its €5.4bn phone business sale to Microsoft. The deputy chief executive of KPMG in the India said: “This is a pretty dark day for India’s image abroad. I am party to several discussions involving foreign companies who say that, if we have a choice, we will expand outside India because there is no certainty over tax.”