The Indian Ministry of Finance claims their anti -smuggling agency found evidence that Oppo India was involved in an attempt to evade taxes worth 43.98 billion Rupees (~ RM 2.4 billion). In a statement released yesterday, Oppo India allegedly tried to hide the value of components that the devices imported into India.
In addition, the value of licenses paid to licensees abroad when importing components also failed to be declared. Oppo India has already issued a statement that the company made a mistake and has already made a pre-payment amounting to 4.5 billion Rupees (~ RM250 million).
Oppo is not the first company to be investigated by the Indian government since a dispute with China in 2020. Last May Indian authorities seized RM3.2 billion from Xiaomi for allegedly violating foreign exchange laws. Vivo India's bank accounts, cash and gold bars were also frozen earlier because they were also accused of committing the same offense.
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