The Fiscal Intelligence Authority of India (DRI) accused Vivo Cell of ₹22.1 billion (US$280 million) of tax evasion. DRI detected the customs obligation evasion and issued the corporate a “presentation of trigger” discover, a authorized requirement for the corporate to justify its actions.
Vivo Cell is accused of “intentionally misrepresenting sure imported merchandise.” Proof of this got here to mild after the Division of Enforcement (ED) searched 44 places owned by the corporate. Some belongings had been seized throughout the investigation.
The tax evasion allowed Vivo Cell to switch nearly $8 billion to its dad or mum firm in China inside 5 years, practically half of Vivo Cell’s income, in line with authorities.
Vivo is not the one smartphone firm below scrutiny – Finance Minister Nirmala Sitharaman confirmed authorities are additionally Oppo investigation and Xiaomi.
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