Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

BMW Says It’s Under India Inspection After Report

May 8 (Bloomberg) -- Bayerische Motoren Werke AG said it’s cooperating with Indian authorities after a newspaper reported the German company is being investigated for possibly owing $120 million in taxes.

“An inspection is in process by the authorities at the BMW plant in Chennai,” Abhay Dange, a BMW India spokesman, said in a text message. “We are cooperating with the authorities in the inspection process.”

Indian authorities are examining whether BMW owes additional taxes for auto-parts imports stretching back to 2011, the Wall Street Journal reported, citing a person familiar with the matter it didn’t identify. Inspectors have seized a shipment of engines and transmission equipment as part of the probe, according to the report.

Dange declined to comment on details of the investigation.

Sandeep Bhatnagar, joint secretary for customs at India’s Central Board of Customs and Excise in New Delhi, didn’t answer after-hours calls to his office.

To contact the reporter on this story: Siddharth Philip in Mumbai at sphilip3@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.