Truecaller Faces Indian Tax Raids Over Transfer Pricing Allegations

The Swedish company's offices in Gurugram were raided as part of an investigation into potential violations of transfer pricing regulations.

Indian tax authorities raided Truecaller's offices in Gurugram and other locations, investigating alleged transfer pricing violations.
Truecaller, a Stockholm-based company, derives 80% of its revenue from India, where it has over 400 million users.
The company has launched Fraud Insurance in India, partnering with HDFC Ergo to protect premium users from scams.
Truecaller stated it is cooperating fully with authorities and emphasized its compliance with international tax standards.
Following the raids, Truecaller's shares fell by 11% on the Stockholm stock exchange.