Romanian Tax Authority Impounds Nokia's Romanian Assets For $10 Million In Unpaid Taxes -Mediafax
11 November 2011 - 2:12PM
Dow Jones News
Romania's tax authority ANAF impounded Nokia Corp.'s (NOK)
assets in Jucu, northwestern Romania, after an investigation
revealed the Finnish telecommunications giant owed $10 million in
unpaid custom taxes, ANAF chief Sorin Blejnar told news agency
Mediafax Friday.
Blejnar added: "The measure is preventive and does not affect
the company's activity."
He said the investigation on Nokia, started in 2009, was
completed a few days ago. The tax authority has impounded the
company's assets covering a 28,000 square-meter surface area,
including offices and production halls, Blejnar said.
Nokia, which started making mobile phones in Romania in February
2008 following a EUR60 million investment, announced in September
it is closing its production line in Romania by the end of the year
and moving operations to Asia. Nokia will be laying off 2,200
employees in Romania.
"We are looking into this matter and engaging with the local
authority to ensure it will be resolved satisfactorily," said Nokia
spokesman James Etheridge in an email to Dow Jones Newswires.