Romanian Fiscal Administration Sequesters Nokia Assets Over Debt

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Nokia recently announcement that the factory from Jucu, Romania, will be closed as the Finnish company retires from the country. Now the National Agency of Fiscal Administration has sequestered Nokia assets in the country over an alleged $10 million debt.

“An inspection revealed that the company has outstanding obligations of customs tax nature in the amount of $10 million”, said Sorin Blejnar, president of the National Agency of Fiscal Administration. As per the description of the fiscal law, Nokia’s assets were sequestered; the law allows sequestration of assets when there is a danger of alienation of the property by a company in debt. Nokia can appeal the decision but has yet to make an official statement.

Source: Mediafax

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