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Nokia's new CEO 'was fined for tax fraud'

Undeclared Swiss treats cost Kallasvuo €31,000

Tags: kallasvuo, olli-pekka kallasvuo, nokia

By Jo Best

Published: 23 January 2006 16:05 GMT

Nokia's incoming CEO, Olli-Pekka Kallasvuo, has been fined for tax fraud, according to reports.

The CEO-in-waiting of the Finnish giant had to pay a €31,000 penalty after failing to declare imported goods worth €11,000, including antiques and shoes, the Financial Times reported.

The paper said that Kallasvuo was stopped in September 2004 in Helsinki, en route from Switzerland, by officials who had been alerted by the Swiss authorities, when Kallasvuo claimed a VAT refund on his purchases in Zurich.

Reports of the incident, which was settled out of court, surfaced in the Finnish media this weekend.

A Nokia spokeswoman said Kallasvuo had told the Nokia board about the event and the company is aware of the matter.

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