India demands $601 million in taxes from Samsung

• Samsung and its executives ordered by Customs authorities to pay $601 million in back taxes and penalties for evading tariffs on import of key telecoms equipment.
• The demand represents a significant portion of Samsung’s net profit of $955 million in India last year.
• Samsung received a warning in 2023 for misclassifying imports to evade tariffs on a critical transmission component used in mobile towers.