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Government's strong eye on Xiaomi, Vivo and Oppo, notices issued to Chinese smartphone companies

Government's strong eye on Xiaomi, Vivo and Oppo, notices issued to Chinese smartphone companies

Aug 04, 2022 | 4:55 PM

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Large difficulties have arisen for Chinese mobile manufacturing companies working in India. The central government is keeping an eye on tax evasion cases by three major Chinese mobile companies- Oppo, Vivo India and Xiaomi. The government has also issued notices to these companies. The cases made on these companies include income tax evasion, custom related violations to fraud and money laundering.

Union Finance Minister Nirmala Sitharaman told Parliament on Tuesday that Department of Revenue Intelligence (DRI ) Oppos has issued a total notice of total custom duty of Rs 4,389 crore to Oppo. The reason for this, he has told not to give information about some goods, due to which there has been a mess in the payment of duty. Sitharaman said that the theft of duty is around Rs 2,981 crore.

In addition, ED has raided more than 40 places, including Uttar Pradesh, Madhya Pradesh and some southern states. It has done this red in relation to the money laundering case against Chinese smartphone manufacturing company Vivo.

Earlier in July, ED had blocked 119 bank accounts related to Vivo India. In the investigation of money laundering, he got crores of rupees in these accounts. The Enforcement Directorate described it as a serious economic crime. In response, the mobile company approached the Delhi High Court. He sought permission from the court to operate his bank accounts. Then, the court has approved the company to operate bank accounts for giving a bank guarantee of Rs 950 crore to the company.

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August 4th 2022, 11:33 am
Amitesh Kumar
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