(MENAFN) Indian tax authorities have asked IBM's local unit to pay USD873 million in outstanding income tax on fiscal 2009 revenue, according to The Peninsula Qatar.
In a statement, an IBM India spokeswoman confirmed the company had received a tax notice, but declined to comment on the amount of tax liability or the nature of the notice.
The Income Tax office issued the company a notice for under-reporting revenue for fiscal 2009 by the Indian unit.
In its latest 10-Q filed with the US Securities and Exchange Commission, IBM said it had recorded USD394 million in prepaid income tax in India on September 30, 2013. IBM said a "significant portion" of that amount was paid in order to reserve its right to appeal previous tax assessments in India, which it said it expects to win.
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