Abstract

This paper attempts to analyze the impending Nokia tax dispute where the retrospective income tax legislation of India triggered Nokia's invocation of Article 9 of the India Finland BIT . Over the last one decade, India has seen a considerable rise in the number of investment disputes that have arisen out of such agreements. Investors such as Vodafone and Nokia have invoked dispute resolution clauses of the BIT because of the retrospective amendment made by the Finance Act of 2012. The Nokia dispute holds importance as freezing of assets by the Indian tax authorities has caused ...