Categories
Brief Law & Regulation Tech, Media & Telecom

Oppo accused of evading $551m in Indian taxes

An investigation by India’s Directorate of Revenue Intelligence has found that Chinese smartphone maker Oppo evaded customs duty worth 43.9 billion rupees ($551 million), a government statement said on Wednesday, reports Reuters.

Indian investigators found evidence that Oppo wrongfully used duty exemptions for items imported for use in mobile phone production, the statement said. They also allege Oppo made royalty payments which were not added to the transaction value of imported goods, as required by Indian law, it added.

A notice “has been issued to Oppo India demanding (the) customs duty,” the government said. A spokesperson for Oppo, which is owned by China’s BBK Electronics, said the company was reviewing the notice and would respond.

Leave a Reply

Discover more from China Economic Review

Subscribe now to keep reading and get access to the full archive.

Continue reading