Coca-Cola India has $1 Million Overdue Tax Liability
New Delhi, March 16: Indian arms of Ericsson, Daewoo Motors, Samsung
and Coca Cola India figure among dozens of MNCs that have outstanding
tax liability totalling over Rs 3,500 crore.
The revenue department, according to finance ministry figures, has
to recover Rs 472.10 crore from Swedish telecommunications equipment
maker Erricsson AB, Rs 442.72 crore from Daewoo Motors India and Rs
424.75 crore from Coca Cola India.
About three dozen MNCs operating in India have total outstanding tax
liability of more than Rs 3,500 crore as of December 31, 2007, says
the finance ministry figures on Companies with tax arrears of more
than Rs 25 crore.
The list of Companies with high outstanding tax liability also include
Samsung India Electronics (Rs 132.84 crore) and Star India Ltd (Rs
Other Companies against which there is a large outstanding tax liability
include Niko Resources (Rs 139.72 crore), Cartier Shipping (Rs 174.79
crore), A P Moller (Rs 113.10 crore) and Gracemac Cocon (Rs 136.49
The revenue department, according to official sources, has set up
a task force to monitor recovery of arrears in cases involving large
Besides, the ministry has also requested Settlement Commission for
speedy disposal of high demand cases, they said.
The Government has also requested the Income Tax Appellate Tribunal
and Commissioners (Appeals) to expeditiously dispose of appeals involving
substantial amount of arrears.
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