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Samsung Faces $601 Mn Fines
Mint Mumbai
|March 26, 2025
Govt has ordered Samsung, its executives to pay taxes for dodging tariffs on import of key telecoms equipment
India has ordered Samsung and its executives in the country to pay $601 million in back taxes and penalties for dodging tariffs on import of key telecoms equipment, a government order showed, for one of the biggest such demands in recent years.
The demand represents a substantial chunk of last year's net profit of $955 million for Samsung in India, where it is one of the largest players in the consumer electronics and smartphones market. It can be challenged in a tax tribunal or the courts.
The company, which also imports telecoms equipment through its network division, received a warning in 2023 for misclassifying imports to evade tariffs of 10% or 20% on a critical transmission component used in mobile towers.
It imported and sold these items to billionaire Mukesh Ambani's telecom giant, Reliance Jio.
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