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India Seizes $58 7 Million From Chinese Smartphone Maker Vivo Over Tax Evasion

India's anti-money laundering agency seized 4.65 billion rupees ($58.75 million) from Indian businesses linked with Chinese smartphone maker Vivo.

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ED: To evade tax, Vivo remitted 50% revenue to China

The Enforcement Directorate (ED) today alleged that the Indian arm of Chinese mobile phone maker Vivo “remitted” almost 50 per cent of its turnover (Rs 62,476 crore) to China to avoid paying taxes here. Vivo has a turnover of Rs 1,25,185 crore.

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Vivo remitted 50% of revenue worth Rs 62,476 cr to avoid Indian taxes: ED

The statement came after the ED raided 48 locations of Vivo India and its associated companies across the country on July 5.

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Vivo India remitted Rs 62,476 crore abroad, almost 50% to China: ED

A day after it was reported that two top executives of its associated company likely fled India, following raids

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We have 9000 employees There is a liability : Vivo India challenges freezing of bank account by ED | Companies News

Vivo India approached the Delhi High Court to challenge the freezing of the company`s bank account by the Enforcement Directorate (ED) in connection with a money laundering case.

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