Highlights
China’s mobile manufacturer Vivo committed tax evasion of Rs 2217 crore.
The central probe agency sent a notice to the company asking it to pay the fee.
Xiaomi and Oppo also came under scrutiny for tax evasion
New Delhi. The Directorate of Revenue Intelligence (DRI) has detected customs evasion of around Rs 2,217 crore by smartphone company Vivo India. The Finance Ministry gave this information on Wednesday. The ministry said that during the investigation, DRI officials searched the manufacturing plant of Vivo India, a subsidiary of China’s Vivo Communication Technology. During this, the authorities have found objectionable evidence of deliberately giving false information in the description of certain items imported for use in the manufacture of mobile phones.
Based on this false information, Vivo India has wrongly availed unfair duty exemption (custom duty) of Rs 2,217 crore, the statement said. According to the ministry, after the completion of the investigation, a show cause notice has been issued to Vivo India. The notice asked the company to pay customs duty of Rs 2,217 crore crore under the provisions of the Customs Act, 1962. At the same time, Vivo India has voluntarily deposited Rs 60 crore towards its different customs liability. It is worth noting that DRI has recently issued notice to mobile phone company Oppo to pay a total customs duty of Rs 4,389 crore.
Finance Minister also gave information in Parliament
Finance Minister Nirmala Sitharaman On Tuesday, the Rajya Sabha said that there have been reports of tax malpractices by China’s 3 mobile phone makers Oppo, Vivo and Xiaomi. He had said that many central agencies are investigating against these companies. Let us tell you that DRI is one of those central agencies. Apart from this, the Enforcement Directorate (ED) and Income Tax Department are also investigating against these companies. The Finance Minister had said that investigation is also going on against 18 other companies associated with Vivo. He said that Vivo has sent a major part of the sale of Rs 1.25 lakh crore in India out of the country through these 18 companies.
threat to the integrity of the country
Last month, on July 25, the ED, while giving a statement against Vivo in the Delhi High Court, said that the case is not only an economic offense but it is also an attempt to destabilize the country’s financial system and threaten the integrity and sovereignty of the nation. . The probe agency claimed in an affidavit before the court that the bank accounts of Vivo seized by the ED showed that the company was involved in money laundering.
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Tags: business news, Custom duty, DRI, Oppo, Tax Evasion, Vivo, Xiaomi
FIRST PUBLISHED : August 03, 2022, 20:53 IST
