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.
EU state aid regulators aim to rule on Amazon’s tax deal with Luxembourg by July, two people familiar with the matter said on Thursday, and it may order the country’s tax authorities to
Press Release from Cayman Finance, Friday 1 March, 2024. Cayman Finance is praising the Ministry of Financial Services for pioneering a first-of-its-kind legislative consultation process for proposed
HSBC’s Swiss private banking arm breached money-laundering rules by failing to carry out adequate checks on the high-risk accounts of two politically exposed individuals, Switzerland’s banking regulator
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), recently highlighted the challenges of regulating artificial intelligence (AI) and cryptocurrencies in the financial sector.