Indian Tax Audit Concerns Truecaller's Revenue Allocation
Truecaller AB has received its first formal transfer pricing order from India concerning the 2022/2023 financial year. The company disputes the claims and intends to challenge them.
Truecaller AB announced it has received a formal transfer pricing order from India for the financial year 2022/2023. The order concerns the allocation of the company's revenues between its group entities.
The company stated that it considers the claims made by Indian tax authorities to be unfounded. Truecaller maintains that its transfer pricing policies comply with arm's length principles, a stance verified by external experts.
Truecaller has indicated it will vigorously challenge the assessment. The company also affirmed its strong financial position, which it states will support its efforts to contest the claims.
Transfer pricing audits are a common focus for tax authorities globally, examining whether multinational corporations are appropriately allocating profits among different tax jurisdictions.