The South Korean carmaker is facing charges similar to those slapped on Volkswagen for missclassifying imports of parts for its Carnival minivan.
Kia has been accused by Indian authorities of evading taxes to the tune of $155 million by misclassifying component imports, according to Reuters. Tax officials sent a notice to the South Korean maker in April 2024, but the company denies any wrongdoing.
In a similar case, Volkswagen in September last year was slapped with a $1.4 billion tax notice because the company allegedly imported “almost the entire car” in unassembled condition and misclassified the components as individual parts.
The Georgian Parliament did not consider the president’s substantiated remarks presented during the veto procedure on the offshore law and thus overrode the veto. In her remarks, Georgian president Salome
A complex tax avoidance scheme that moves income offshore has been exposed by HM Revenue and Customs (HMRC) today (29 February 2024), with anyone who has joined the arrangement warned to get out of
China said on Thursday it will temporarily exempt foreign firms from paying provisional income tax on profits they re-invest into the economy, in a bid to stop foreign firms shifting their operations
The EU and OECD have jointly developed rules to prevent companies from exploiting differences in national legislation for financial gain. According to a new thesis at Uppsala University, however, companies