vivo Mobile accused of tax evasion to the tune of $280 million in India

India’s Directorate of Revenue Intelligence (DRI) has accused Vivo Mobile of evading taxes worth ₹22.1 billion ($280 million). The DRI discovered custom duty evasion and issued a “show cause” notice to the company – a legal request for the company to justify its actions. Vivo Mobile is accused of “willful mis-declaration in the description of certain items imported”. Evidence of this was discovered after the Enforcement Directorate (ED) raided 44 locations belonging to the company. Some assets were seized during the investigation. According to data from the authorities, the tax...

GSMArena.com - Latest articles https://ift.tt/2vU6C47