#Giveaway  on last slide

Indian Government Accuses Vivo For Not Paying 280 Million Dollars Tax

Scribbled Arrow

Vivo Mobile was accused by India's Directorate of Revenue Intelligence of evading taxes in the amount of Rs 22.1 billion ($280m). 

The DRI found custom duty evasion and issued a "show-cause" notice to Vivo Mobile. 

This is a legal request to the company to justify its actions.

Vivo Mobile is charged with "willful misdeclaration in the description of certain imported items". 

After raiding 44 locations owned by Vivo Mobile, the Enforcement Directorate (ED) discovered evidence of this. During the investigation, some assets were seized.

According to the authorities, Vivo Mobile transferred nearly $8 billion to China's parent company over 5 years. This is almost half of Vivo Mobile's revenue.

Vivo isn't the only smartphone company under investigation - Nirmala Sitharaman, Finance Minister, has confirmed that authorities are also looking into Oppo and Xiaomi.