Indian tax authorities raid local offices of Chinese smartphone maker Vivo
The Department's Directorate of Enforcement on Wednesday raided 48 premises belonging to Vivo Mobiles, the Indian outpost of the smartphone vendor that, according to Counterpoint Research,The reason for the raids was the Department's belief that Vivo shifted about $8 million to China,"in order to disclose huge losses in Indian incorporated companies to avoid payment of taxes in India.
for Indian authorities to"provide a truly fair, just and non-discriminatory business environment for Chinese companies investing and operating in India."of $725 million from Chinese gadget-maker Xiaomi's Indian presence, on grounds it too had improperly funneled cash to China.Vivo and Chinese telco equipment maker ZTE.
Investigations into both are continuing, as are probes into a clutch of financial services apps that offered predatory loans using funds the Department alleges came from sources in China.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
“As a Muslim Indian woman, Ms Marvel makes me feel seen at last”From its sensitive discussion of partition to easy bouncing between languages, Ms Marvel is shining a light on the experiences of a diaspora usually ignored in Western culture.
Read more »
Hacker offers to sell Shanghai police database holding details on one billion Chinese residentsChinese authorities have not publicly commented on the breach. Search terms relating to it, including 'data leak', were censored on Chinese social media.
Read more »
Three to stand trial after Kenmure Street protestThey are accused of various offences relating to a mass demonstration in Glasgow over immigration raids.
Read more »
July tax break for workers does nothing to help Lancashire’s small businesses, group warnsAs income tax and national insurance rates fall for many low paid workers, the Lancashire based Federation of Small Businesses said the tax burden is too heavy for many firms.
Read more »
Fujifilm could finally be ready to fix the worst thing about its mirrorless camerasA new smartphone app is apparently in the works
Read more »
Two million workers free from National InsuranceEmployees can now earn £12,570 a year before paying National Insurance tax, up from £9,880.
Read more »