Tax Maneuver: Truecaller's Compliance Challenges

The Indian Income-Tax Department conducted a survey at Truecaller's India offices concerning tax evasion and transfer pricing issues. The Stockholm-based caller ID platform expressed cooperation with authorities, emphasizing its commitment to transparency and compliance with international tax laws amid ongoing scrutiny.

On Thursday, the Indian Income-Tax Department carried out a survey operation at the offices of Swedish caller ID platform Truecaller over allegations of tax evasion. Official sources indicated that the operation aimed to scrutinize documents, particularly those related to transfer pricing.

Truecaller, headquartered in Stockholm, has assured full cooperation with the investigators. The company, which has offices in Bengaluru, Mumbai, and Gurugram, clarified that the visit was part of routine tax scrutiny and not an unusual occurrence.

In its public statement, Truecaller stated that it strives for financial transparency due to its status as a publicly-listed company. The firm confirmed its consistency with international tax compliance, highlighting that its intra-group transactions follow the arm's length standard.

(With inputs from agencies.)