[US] Seattle Finance and Administrative Services fines Infosys

On September 7, Infosys announced that it had received notification of a fine from Seattle Finance and Administrative Services, The Free Press Journal reports.

While notifying through an exchange filing Infosys said it was fined $1,764.84 for short payment of local payroll tax for the period between January 1, 2021, and December 31, 2022, to the tax authority.

Infosys is an Indian multinational information technology company providing business consulting, IT and outsourcing services.

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

In August, Infosys also received communication for a penalty from the Florida Department of Revenue for a shortfall of payment of tax. The Department of Revenue had charged a penalty of $76.92. However, Infosys reportedly said it had applied for a higher tax rate in error and was looking at what further steps should be taken.

Source: The Free Press Journal

(Quote via original reporting)

On September 7, Infosys announced that it had received notification of a fine from Seattle Finance and Administrative Services, The Free Press Journal reports.

While notifying through an exchange filing Infosys said it was fined $1,764.84 for short payment of local payroll tax for the period between January 1, 2021, and December 31, 2022, to the tax authority.

Infosys is an Indian multinational information technology company providing business consulting, IT and outsourcing services.

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

In August, Infosys also received communication for a penalty from the Florida Department of Revenue for a shortfall of payment of tax. The Department of Revenue had charged a penalty of $76.92. However, Infosys reportedly said it had applied for a higher tax rate in error and was looking at what further steps should be taken.

Source: The Free Press Journal

(Quote via original reporting)