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ED investigates three Chinese mobile companies for tax evasion; Report

According to Union Finance Minister Nirmala Sitharaman on Tuesday, the government has written to Oppo, Vivo India, and Xiaomi regarding potential tax evasion. The Department of Revenue Intelligence (DRI) has notified the Oppo cellphone company of a total of Rs 4,389 crore in customs duties. Xiaomi has received three show-cause notices, with a total duty bill of Rs 653 crore. And the third company is Vivo India, which received a demand notice for Rs 2,217 crore and made a voluntary deposit of Rs 60 crore.

Furthermore, the ED is looking into 18 Vivo-founded firms that have made a voluntary deposit of Rs 62,000 crores, according to Sitharaman. A member of parliament, Sushil Modi, stated that the department informed him that Vivo Mobile India had sent approximately Rs. 62,000 crores to China and its controlled territories. He then inquired as to which other Chinese firms had sent money to China and its controlled territories, as well as the amounts involved. In response to another question, the minister stated that the DRI is investigating a number of telecom businesses.

She stated that a BJD member had expressed ‘legitimate concern’¬†about shady loan applications. According to her, in terms of loan-related difficulties, applications are being mishandled, particularly those from a single country, and as a result, many of our residents are harassed and money is extorted from them. Although it has been correctly noted that these Apps are being downloaded in, say, Odisha, there are reports of them being downloaded in other States as well. MeitY, Corporate Affairs, the Ministry of Finance, and a few other Departments are all constantly debating and working to ensure that action is taken.

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