Samsung might lose its tax benefits in India for 2021
The Indian government offers tax benefits to foreign companies that choose to manufacture their products locally and invests capital in India. It's called the Production-Linked Incentive scheme and alleviates some of the tax imposed on companies. Samsung is one of the beneficiaries, but an issue with invoices may strip the Korean tech giant from its benefits for the fiscal year 2021.
Due to discrepancies with the invoicing, Samsung now faces an investigation. Back in August 2021, Samsung claimed $108 million in incentives for reaching $1.81 billion worth of additional sales for the financial 2021 over the prior year.
Interestingly enough, the government official familiar with Samsung's case said that although the company has collaborated and has fixed the issue, "what's gone is gone for the first year", which might mean that Samsung won't be getting those incentives for 2021. Other companies, such as Foxconn and Winstron, received their tax benefits.