Tax evasion of china mobile companies Government issued notices to three Chinese mobile companies said Sitharaman

Union Finance Minister Nirmala Sitharaman (File Photo) - India TV Hindi News
Image Source : PTI
Union Finance Minister Nirmala Sitharaman (File Photo)

Highlights

  • Notices issued to three Chinese companies Oppo, Vivo India and Xiaomi
  • Government is probing cases of alleged tax evasion by him: Sitharaman
  • “Besides these, the ED is also looking at 18 companies that were set up by Vivo”

Tax evasion of china mobile companies: Finance Minister Nirmala Sitharaman said in the Rajya Sabha on Tuesday that the government has issued notices to three Chinese mobile phone companies. The government is probing the alleged tax evasion cases by him and notices have been issued to him in this regard. Sitharaman, while answering supplementary questions during the Question Hour, said that notices have been issued to three Chinese companies Oppo, Vivo India and Xiaomi. He said the Department of Revenue Intelligence (DRI) has issued a notice to mobile phone company Oppo for a total customs duty of Rs 4,389 crore.

Tax evasion of about Rs 2,981 crore

Sitharaman said that the Department of Revenue Intelligence (DRI) has issued a notice to mobile phone company Oppo for a total customs duty of Rs 4,389 crore. He said that according to an estimate the tax evasion is around Rs 2,981 crore. The Finance Minister said, “We believe that there is tax evasion of Rs 1,408 crore due to undervaluation of imported products for payment of custom duty.” , which is much less than the demand of Rs 4,389 crore.” Referring to other companies, he said that Xiaomi is another mobile phone company that deals with ‘assembled’ Mi mobile phones.

Three show cause notices issued

“Three show cause notices have been issued to him and he has a custom duty liability of about Rs 653 crore. Only Rs 46 lakh has been deposited on the three show cause notices issued to him,” the minister said. Sitharaman said the third company is Vivo India, for which a ‘demand notice’ of Rs 2,217 crore has been issued and she has deposited Rs 60 crore voluntarily. Besides these, the Enforcement Directorate (ED) is also eyeing 18 companies that were set up by the same group, Vivo, he said. He said that out of the total sales of Rs 1.25 lakh crore, the parent company Vivo transferred a large amount of money through these 18 companies.

Latest India News

For more news stay tuned to INTV News.

Leave a Reply

Your email address will not be published.