Kia contests $14 million India tax demand for wrongly using trade treaty exemptions

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Kia contests $14 million India tax demand for wrongly using trade treaty exemptions - Channel News Asia

Quick Summary:

NEW DELHI : Kia on Friday said it is contesting an Indian tax demand of $14 million for wrongly using free trade agreements to claim lower tariffs on some electronic car part imports, the latest tax tussle between the South Korean automaker and New Delhi.

The "issue regarding misclassification is an interpretational issue", Kia said in a statement, adding that the company has submitted a detailed response to the tax authorities who are still reviewing the matter.

FILE PHOTO: The new Kia EV6 is presented during India's five-day auto show in New Delhi, India, January 17, 2025.