Vivo sent Rs 62476 crore to China to avoid getting taxed in India, says ED

New Delhi: Chinese mobile manufacturer Vivo is tightening the screws of hj Enforcement Directorate (ED). ED has raided 48 locations of 23 companies linked to Vivo. The company has been seriously accused of tax evasion. At the same time, it has been revealed in the information that to save tax, Chinese mobile manufacturer Vivo India sent half of its turnover i.e. about Rs 62476 crore to China.

According to PTI, Vivo India remitted half of its earnings to its parent company Vivo to avoid tax. Now the ED is tightening the noose on the company in the case of tax evasion. While raids are being conducted in different offices of the company, an amount of 465 crores has been seized from 119 bank accounts of Video India.

The ED alleged that several Chinese nationals and employees of Vivo India were not cooperating with the team investigating the matter. Efforts are being made by Vivo to remove the digital devices kept as evidence and hide the evidence. At the same time, since July 5, ED has searched 48 locations of 23 companies associated with Vivo and many important documents have been found in the hands of ED.
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