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Vivo Mobile is allegedly charged with $280 million in tax evasion In India. See Why

Home » Vivo Mobile is allegedly charged with $280 million in tax evasion In India. See Why

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Vivo Mobile has been charged by DRI with evading taxes totaling $281 million. The DRI identified customs duty evasion and sent the company a “show cause” notice, which is a formal demand that the company defend its conduct.

Vivo company charge allegedly charged with $280 million in tax evasion In India.

It is alleged that Vivo Mobile Company “willfully misdeclared in the description of certain imported items.” The Enforcement Directorate (ED) raided 44 of the company’s locations and found evidence of this. During the investigation, some vivo-owned assets were taken into custody.

Data from the authorities shows that Vivo Mobile transferred close to $8 billion—or nearly half of Vivo Mobile’s revenue—to its Chinese parent company over the course of five years thanks to tax evasion. 

The investigation is not limited to Vivo; according to Finance Minister Nirmala Sitharaman, Oppo and Xiaomi are also being looked into.

This post may contain affiliate links which means i may receive a commission for purchases made through links. I will only recommend products that have personally used! Learn more on my Private Policy page.

 

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