The caller identification app said it had received the first formal transfer pricing order from India for the 2022/23 financial year
Sweden's Truecaller said on Monday it expected Indian authorities to seek a tax claim of about 900 million Swedish crowns ($90.85 million), including interest, after auditing its transfer pricing in the country.
A transfer price is the actual price charged in a transaction between related entities, according to India's Income Tax website.
The caller identification app said it had received the first formal transfer pricing order from India for the 2022/23 financial year. A formal tax demand will follow.
The order, which relates to the allocation of revenue between Truecaller entities, proposes an adjustment of 270 million crowns in additional tax and interest, the company said.