Infosys Penalised By Florida Department Of Revenue For Shortfall In Payment Of Tax

Infosys earlier this month received communication for a penalty from Florida department of revenue for a shortfall of payment of tax, the company announced on Wednesday through an exchange filing. The company also added that it is in process of requesting for rectification.

The Florida department of revenue has charged a penalty of $76.92. However, according to the company, there is 'no material impact on financials, operations or other activities of the company.'

Infosys in the regulatory filing said, "Authority has applied higher tax rate in error."

It also added that the company was in process of determining further steps post checking the veracity after it received the communication on August 18, 2023 at its US office.

Infosys shares

The shares of Infosys on Wednesday morning at 10:24 am IST were trading at Rs 1,410.05, up by 0.45 per cent.

Liberty global and Infosys partnership

Liberty Global, a leading converged video, broadband and communications companies, and Infosys earlier this month announced that they have expanded their collaboration to evolve and scale Liberty Global's cutting-edge digital entertainment and connectivity platforms.