Infosys Fined $1,764.84 By Seattle Finance & Administrative Services

Infosys Fined $1,764.84 By Seattle Finance & Administrative Services

While notifying through an exchange filing the company said it was fined for short payment of local payroll tax for the period between January 1, 2021 and December 31, 2022 to the tax authority.

Pratiksha ThayilUpdated: Thursday, September 07, 2023, 03:16 PM IST
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Infosys Fined $1,764.84 By Seattle Finance & Administrative Services | Image: Infosys (Representative)

Infosys on Thursday announced that it has received notification of a fine of $1,764.84 on Wednesday from the Seattle Finance and Administrative Services, USA. While notifying through an exchange filing the company said it was fined for short payment of local payroll tax for the period between January 1, 2021 and December 31, 2022 to the tax authority.

Infosys in the regulatory filing said, "There is no material impact on financials, operations or other activities of the Company."

Fine by Florida department of revenue

Last month Infosys also received communication for a penalty from Florida department of revenue for a shortfall of payment of tax. The Florida department of revenue had charged a penalty of $76.92. However, the company said it had applied for a higher tax rate in error and was looking at what further steps need to be taken.

Infosys shares

The shares of Infosys on Thursday afternoon at 3:12 pm IST were trading at Rs 1,465.10, down by 0.84 per cent.

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