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.
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