Indian authorities investigating local unit of Mondelez International brand chocolate maker Cadbury over allegations that company may have evaded up to 2B Indian rupees in taxes
November 22, 2012
(Industry Intelligence Inc.)
– Indian authorities are investigating the local unit of Mondelez International brand chocolate maker Cadbury over allegations that the company may have evaded up to 2 billion Indian rupees (US$36.3 million) in taxes, Thomson Reuters reported Nov. 22.
The investigation involves alleged evasion of cental excise duty at a company facility in the northern state of Himachal Pradesh.
In 2011, Indian authorities launched an investigation as to whether Kraft Foods Inc. needed to pay taxes over its $19 billion takeover of Cadbury. That investigation is still ongoing.
The primary source of this article is Thomson Reuters, London, England, on Nov. 22, 2012.