Last week we reported Transsion Holdings is now the manufacturer with the second largest market share in Southeast Asia behind Samsung. Through the Tecno and Infinix brands, they offer devices that are very affordable compared to competitors. This is the strategy that also made them the number one smartphone Transsion Investigated For Allegedly Trying To Evade RM 14 Billion In Taxes In Kenya
But according to a report by Kenya Insights, Transsion Holdings is currently being investigated by the Kenya Inland Revenue Board for allegedly trying to evade taxes amounting to Sh400 billion (~RM 14 billion). The company is said to be unlisted as one of the biggest tax payers in Kenya despite being the country's number one smartphone brand. The investigation began after IRB Kenya received information that Transsion Holdings only made transactions in cash.
Allegations of tax evasion have also been reported in India involving several big brands from China, causing several company executives to be arrested by the authorities. So far the case has not been tried in court.