Vivo Becomes Latest Chinese Smartphone-Maker Accused of Tax Evasion in India
What’s new: India has accused Vivo Mobile Communications Co. Ltd. of evading taxes worth 22.2 billion rupees ($280 million), a month after local authorities raided some of the Chinese smartphone-maker’s offices as part of a money laundering probe.
The Directorate of Revenue Intelligence (DRI), affiliated to India’s Ministry of Finance, said in a Wednesday statement that it found evidence that Vivo India willfully and wrongly described certain imported components used to make mobile phones to dodge import duties worth 22.2 billion rupees.
The DRI said that it has issued a notice to Vivo India demanding payment and that the firm has already voluntarily submitted 600 million rupees.
Vivo did not respond to Caixin’s request for comment.
In the second quarter of 2022, Vivo was India’s fourth-largest smartphone seller with a market share of 15%, according to research firm IDC. The first, second, third and fifth spot went to Xiaomi (23.3%), Samsung (19%), Realme (16.4%) and Oppo (9.6%).
Contact reporter Ding Yi (firstname.lastname@example.org) and editor Joshua Dummer (email@example.com)
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