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<ul><li>The Delhi High Court has allowed <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> to operate its bank accounts in the country.</li><li>The Enforcement Directorate had blocked Vivo’s 119 accounts as part of its investigation against Vivo.</li><li>The Delhi High Court has ordered Vivo to furnish a bank guarantee of ₹950 crore and maintain a bank balance of ₹251 crore.</li></ul>In a major relief to Chinese smartphone maker Vivo, the Delhi High Court has allowed the company to operate its bank accounts in the country. The Enforcement Directorate (ED), the country’s financial watchdog, had raided the premises of Vivo and its associates. The ED had claimed that Vivo had transferred ₹62,476 crore to its parent company in China over a five-year period to avoid paying taxes in the country. The agency had also accused the company of violating the Prevention of Money Laundering Act (PMLA). As part of its investigation, ED had <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">blocked</a> 119 accounts containing ₹465 crore. Soon after this, Vivo <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-moves-delhi-hc-challenging-freezing-of-its-bank-accounts-by-ed/articleshow/92750274.cms">approached</a> the Delhi High Court, challenging the freezing of its bank accounts under PMLA. "Monthly payments of around ₹2,826 crore have to be made towards statutory dues, salaries, rent, and monies for daily business operations. Due to the freezing of the bank accounts, the petitioner will be unable to honor its aforesaid obligations not only towards various statutory authorities but also towards its employees and customers," Vivo had said in its petition. The Delhi High Court today <a href="https://twitter.com/PTI_News/status/1547117241476710405">allowed</a> Vivo to operate its bank accounts in the country and asked the company to furnish a bank guarantee of ₹950 crore. Further, the court also ordered the company to maintain a balance of ₹251 crore. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a> <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a>

Delhi High Court allows Vivo to operate its bank accounts if it’s ready to furnish a ₹950 crore bank guarantee

<ul><li>Finance Minister Nirmala <keyword id="679937" type="General" weightage="100" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> has revealed that the government is investigating multiple Chinese smartphone makers for tax evasion.</li><li><keyword id="874458" type="General" weightage="20" keywordseo="Xiaomi" source="Orion">Xiaomi</keyword>, <keyword id="1731609" type="General" weightage="20" keywordseo="oppo" source="Orion">Oppo</keyword>, and Vivo have come under the scanner of Indian agencies.</li><li>Here’s everything you need to know about the allegations against Chinese smartphone makers.</li></ul>Chinese smartphone makers occupy a huge share of the Indian market, and companies like Xiaomi, Oppo, and Vivo are among the leading smartphone makers in the country. Over the past few months, Chinese smartphone makers have come under the scanner of the country’s financial watchdog, the Enforcement Directorate (ED), and other agencies. Finance Minister Nirmala Sitharaman has confirmed that the government is investigating Xiaomi, Oppo, and Vivo. This was in response to a question raised by the Bharatiya Janata Party’s Sushil Modi in the Rajya Sabha. <cmsannotation type="cmsannotation" annotationid="Oppo" comment="subhead" text="Oppo">Oppo</cmsannotation> Oppo had come under the <a href="https://www.businessinsider.in/tech/enterprise/news/oppo-comes-under-dri-scanner-for-alleged-customs-duty-evasion-of-4389-crore/articleshow/92848544.cms">scanner</a> of the Directorate of Revenue Intelligence (DRI), the country’s apex anti-smuggling agency for customs duty evasion. "The Department of Revenue Intelligence (DRI) has issued notice to Oppo, the mobile company, for a total customs duty of ₹4,389 crore, and these are on the grounds of misdeclaration of certain goods, leading to a short payment in customs duty. That duty evasion, we think, is about ₹2,981 crores," Finance Minister Nirmala Sitharaman said in the Rajya Sabha. In addition, the government has also claimed that Oppo has under-valued certain imported goods, for which it is liable to pay an additional ₹1,408 core, taking its total liability to ₹4,389 core. "As regards the under-valuation of imported goods for the purpose of payments of customs duty, that we think is an evasion of ₹1,408 crore. So, that is for Oppo. Voluntarily, they have come about to deposit ₹450 crore, much against the total that is running in ₹4,389 crore. That is the demand. They have given only ₹450 crore," Sitharaman added. This means Oppo is still liable to pay ₹3,939 core. In an earlier statement to Business Insider India, Oppo revealed that the company has a different view on the allegations and will work with the government to solve the issue. <cmsannotation type="cmsannotation" annotationid="Xiaomi" comment="subhead" text="Xiaomi">Xiaomi</cmsannotation> Xiaomi India has also been under the scanner of the ED for quite some time. The agency earlier <a href="https://www.businessinsider.in/business/corporates/news/xiaomis-manu-kumar-jain-has-been-reportedly-summoned-by-the-enforcement-directorate/articleshow/90803402.cms">summoned</a> the company’s former India managing director Manu Kumar Jain. Speaking about Xiaomi, Sitharaman added, “Three showcause notices have been issued to them, and their approximate duty liability is about ₹653 crore. For the three show-cause notices which have been issued, they have deposited only ₹46 lakh.” The ED had claimed that Xiaomi India had illegally remitted ₹5,551.27 crore to three foreign entities. Xiaomi had claimed that this amount was actually paid for royalties. A source had earlier <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">revealed</a> to Business Insider India that over 80% of these remittances were made to the Qualcomm Group. <cmsannotation type="cmsannotation" annotationid="Vivo" comment="subhead" text="Vivo">Vivo</cmsannotation> Vivo came under the scanner of the ED in July 2022 after the agency raided 44 locations belonging to the company and its associates. The ED had claimed that Vivo had transferred nearly $8 billion to its parent company in China over five years to evade taxes. “The third company is Vivo India, for whom also there is a demand notice given for ₹2,217 crore, against which they have deposited ₹60 crore as a voluntary deposit. Of ₹1,25,000 crore, which is the total sale, Vivo has transferred through these 18 companies a huge amount of funds, and it is believed that Vivo India has, in turn, remitted ₹62,000 crores to its parent company, which is outside India," Sitharaman added. The above numbers reveal that Vivo transferred nearly a half of its revenue to its parent company in China. The investigations began after the Income Tax department <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">conducted</a> a massive raid in December 2021 at 15 locations of several companies such as Oppo, Xiaomi and OnePlus. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe</a> <a href="https://www.businessinsider.in/tech/enterprise/news/oppo-comes-under-dri-scanner-for-alleged-customs-duty-evasion-of-4389-crore/articleshow/92848544.cms">Oppo comes under DRI scanner for alleged customs duty evasion of ₹4,389 crore</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a>

Finance Minister Nirmala Sitharaman reveals government is investigating multiple Chinese smartphone makers for tax evasion

<ul><li><keyword id="6357456" type="General" weightage="100" keywordseo="huawei" source="Orion">Huawei</keyword> has come under the scanner of Indian agencies over tax evasion.</li><li>The Income Tax department has accused Huawei of repatriating large amounts of money to its parent company in China.</li><li>The department has claimed that Huawei sent the money in the form of dividends to reduce its taxable income.</li></ul>Chinese smartphone maker Huawei is the latest company to come under the scanner of Indian agencies. The Income Tax (IT) department has accused Huawei India of repatriating large amounts of money to its parent company in China. According to an Economic Times <a href="https://economictimes.indiatimes.com/news/india/huawei-india-sent-huge-sums-to-parent-even-as-revenue-fell-says-tax-dept/articleshow/92735497.cms">report</a>, Huawei has been accused of repatriating large amounts of money in the form of dividends to reduce its taxable income in India. <cmsannotation type="cmsannotation" annotationid="Huawei sent ₹750 crore as dividends despite dwindling revenues" comment="subhead" text="Huawei sent ₹750 crore as dividends despite dwindling revenues">Huawei sent ₹750 crore as dividends despite dwindling revenues</cmsannotation> The <keyword id="59032" type="General" weightage="20" keywordseo="it-department" source="Orion">IT department</keyword> has claimed discrepancies in the income declared by Huawei in India for at least two financial years. The department has alleged that the company had remitted ₹750 crore as dividends “even when its revenue was reducing drastically”. Huawei has been under the IT department’s scanner for quite some time now. In February, the department had frozen the bank accounts of the company after it found evidence of tax evasion during a search operation. The Delhi High Court had <a href="https://economictimes.indiatimes.com/industry/telecom/huawei-india-ceo-3-executives-summoned-in-i-t-case/articleshow/92137955.cms">summoned</a> the chief executive officer and three executives of Huawei after a complaint was filed by the IT department claiming the company was withholding information. “The non-compliance by the accused company and its officers had resulted in obstruction and stifling of search action of authorized officers,” the court had said in its order. Huawei in its petition to the court had claimed that the freeze on its accounts without any notice had affected its business. In its response to Huawei’s claims, the IT department claimed that it had "incriminating material" against Huawei and added that the company’s petition is "a ploy raised on frivolous grounds just to obstruct departmental proceedings and to avoid consequential payment of taxes". <cmsannotation type="cmsannotation" annotationid="Not the first Chinese company to come under the scanner" comment="subhead" text="Not the first Chinese company to come under the scanner">Not the first <keyword id="149012" type="General" weightage="20" keywordseo="chinese-company" source="Orion">Chinese company</keyword> to come under the scanner</cmsannotation> Huawei is not the first Chinese smartphone maker to come under the scanner of Indian agencies. Earlier this year, the Enforcement Directorate (ED) had <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">claimed</a> that Xiaomi had illegally remitted ₹5,551.27 crore. After Xiaomi, <keyword id="215177" type="General" weightage="20" keywordseo="vivo" source="Orion">Vivo</keyword> came under the scanner of ED, and earlier this month, the financial watchdog revealed that the company has transferred nearly <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">$8 billion</a> to its parent company in China over a five year period, which amounted to around 50% of the company’s turnover during the period. The ED is investigating violations of the Prevention of Money Laundering Act (PMLA) act by the Chinese smartphone maker. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a>

Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion

<ul><li><keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> has allegedly transferred ₹62,476 crore to its parent company in China, in addition to being caught with 2 kilo gold bars in one of its offices.</li><li>The Enforcement Directorate (ED) has claimed that Vivo remitted the amount to avoid paying taxes in India.</li><li>The financial watchdog has blocked over a hundred bank accounts of the company.</li></ul>Chinese smartphone maker Vivo is currently in hot waters with the Enforcement Directorate (ED) in India after the financial watchdog accused the company and its associates in India of violating the Prevention of Money Laundering Act (PMLA). The ED has <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">conducted raids</a> across 44 premises of Vivo and its associates in Uttar Pradesh, Bihar, Madhya Pradesh, Punjab, Haryana, and several other states across the country. The ED has accused Vivo of remitting nearly <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">$8 billion</a> to China. Here’s everything that you need to know about the allegations against Vivo. <cmsannotation type="cmsannotation" annotationid="Vivo has reportedly sent ₹62,476 crore to China to evade taxes" comment="subhead" text="Vivo has reportedly sent ₹62,476 crore to China to evade taxes">Vivo has reportedly sent ₹62,476 crore to China to <keyword id="14399574" type="General" weightage="20" keywordseo="evade-taxes" source="Orion">evade taxes</keyword></cmsannotation> According to a <a href="https://twitter.com/PTI_News/status/1545016847669415936">report</a> by PTI, the ED has claimed that Vivo has remitted ₹62,476 crore, which is around 50% of its revenue over a five-year period to its parent company in China to avoid paying taxes. "The agency is investigating why Vivo India declared profit as expenditure in its balance sheet and transferred substantial sums of money to China," an official familiar with the matter told <a href="https://www.businesstoday.in/technology/news/story/exclusive-ed-probes-rs-62000-cr-fund-transfer-to-vivo-indias-chinese-parent-340713-2022-07-07">Business Today</a>. The money laundering case against Vivo was filed by the agency after taking cognizance of an FIR filed by the Economic Offenses Wing of the Delhi Police against a Vivo distributor based in Jammu and Kashmir. The report has claimed that Chinese shareholders of the company have used forged identity documents. The ED has claimed that the identity was forged to launder money using shell companies and “proceeds of the crime” have been sent to China and other businesses to bypass Indian rules. <cmsannotation type="cmsannotation" annotationid="Two directors flee the country" comment="subhead" text="Two directors flee the country">Two directors flee the country</cmsannotation> A <a href="https://www.businessinsider.in/business/news/vivo-ed-raids-two-chinese-directors-of-a-related-company-flee/articleshow/92714054.cms">report</a> has also revealed that two Chinese directors of a company related to Vivo fled India after the ED raids. The directors were part of Solan, a Himachal Pradesh-based company that was associated with Vivo. The agency has claimed that the Chinese nationals were made directors of the company using forged documents. <cmsannotation type="cmsannotation" annotationid="India blocks over a hundred accounts linked to Vivo" comment="subhead" text="India blocks over a hundred accounts linked to Vivo">India blocks over a hundred accounts linked to Vivo</cmsannotation> As part of its investigation into money laundering violations, the ED has <a href="https://timesofindia.indiatimes.com/business/india-business/india-blocks-119-accounts-linked-to-chinas-vivo-in-money-laundering-probe/articleshow/92729778.cms">reportedly</a> blocked 119 bank accounts linked to Vivo. The accounts reportedly have over ₹465 crore. The agency has also seized ₹73 lakh in cash and 2kg gold. <cmsannotation type="cmsannotation" annotationid="China calls for a “fair and non-discriminatory business environment”" comment="subhead" text="China calls for a “fair and non-discriminatory business environment”">China calls for a “fair and non-discriminatory business environment”</cmsannotation> After the ED raided Vivo and its associates, a spokesperson from the Chinese embassy <a href="https://www.businessinsider.in/policy/economy/news/china-unhappy-with-vivo-raids-says-frequent-probes-chill-investor-confidence/articleshow/92715136.cms">called</a> for a “fair and non-discriminatory business environment” for Chinese firms in the country. "The Chinese government has always asked Chinese companies to comply with local laws and regulations in their overseas operations and will firmly support Chinese companies to maintain their legitimate rights and interests," Wang Xiaojian counselor and spokesperson, Chinese Embassy in India said in a statement. "The Indian side should act in line with laws and regulations and provide a fair and non-discriminatory business environment for Chinese firms," Xiaojian added. <cmsannotation type="cmsannotation" annotationid="India hits back, says Vivo needs to follow the law of the land" comment="subhead" text="India hits back, says Vivo needs to follow the law of the land">India hits back, says Vivo needs to follow the law of the land</cmsannotation> The Indian side has also hit back after the Chinese spokesperson called upon India to provide a non-discriminatory business environment. "Companies that operate here need to follow the law of the land. Our legal authorities are taking steps as per the law of the land. I don't see the case to make comments as such on it," Arindam Bagchi, spokesperson, ministry of external affairs said in a media briefing. SEE ALSO: <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a> <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">EXCLUSIVE: 84% of the ₹5,551.27 crore of the alleged illegal remittance by Xiaomi India were to the Qualcomm Group</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a>

Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe

Chinese mobile manufacturer <keyword id="215177" type="General" weightage="20" keywordseo="vivo" source="Orion">Vivo</keyword> on Friday mov<keyword id="12163" type="General" weightage="20" keywordseo="ed" source="Orion">ed</keyword> a plea in the Delhi High Court challenging the freezing of its various bank accounts by the Enforcement Directorate (ED) under the Prevention of Money Laundering Act (PMLA), 2002. In the writ petition, Vivo said the orders against it are in stark contravention to the mandate of Section 17 of the PMLA, as the same do not entail any reasons for freezing, let alone cogent "reasons to believe" as to why the bank account should be frozen. It is a generic order passed mechanically without any application of mind. It said the total non-application of mind and arbitrariness is manifest from the fact that even the amount in question has not been quantified by the respondent and blanket orders for freezing all the bank accounts have been passed causing substantial and irreparable hardship to the petitioner and gravely impacting its business and reputation. It further said the freezed accounts are utilised for the payment of salaries and statutory dues, opening of letter of credits for the petitioner's operations and for all kinds of expenses necessary for day-to-day functioning of the petitioner. "Monthly payments of around Rs 2,826 crore have to be made towards statutory dues, salaries, rent, monies for daily business operations. Due to the freezing of the bank accounts, the petitioner will be unable to honour its aforesaid obligations not only towards various statutory authorities, but also towards its employees and customers," it said further. Vivo has told the court that the circulation of the news about the ED searches has maligned its image among its suppliers and customers, "leading to reputational and financial loss, and irreparable damage to the years of goodwill developed" by it. "The freezing of the bank accounts will not only impede the existing/prospective business operations of the petitioner conducted through the bank accounts but will bear an adverse effect on the petitioner's operations across the globe," it added. SEE ALSO: <a href="https://www.businessinsider.in/india/news/lost-a-great-friend-pm-modi-mourns-the-loss-of-former-japan-pm-shinzo-abe/slidelist/92748906.cms">Lost a great friend, PM Modi mourns the loss of former Japan PM Shinzo Abe</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo allegedly sent ₹62,476 crore to China to evade taxes in India – here’s everything you need to know</a> <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion</a>

Vivo moves Delhi HC challenging freezing of its bank accounts by ED

<ul><li><keyword id="1731609" type="General" weightage="20" keywordseo="oppo" source="Orion">Oppo</keyword> has reportedly come under the scanner of the Directorate of Revenue Intelligence (DRI).</li><li>The DRI has detected customs duty evasion of ₹4,389 crore by Oppo.</li><li>The company has reportedly mis-declared the description of items imported by it.</li></ul>Oppo is the latest Chinese smartphone maker to come under the scanner of Indian agencies. The Directorate of Revenue Intelligence (DRI), the country’s apex anti-smuggling agency has detected customs duty evasion of around ₹4,389 crore. According to a <a href="https://www.pib.gov.in/PressReleasePage.aspx?PRID=1841150">release</a> by the Press Information Bureau, the DRI conducted a search operation at Oppo’s offices in the country and the residences of its key management, the agency recovered incriminating evidence that revealed willful misdeclaration in the description of items imported by the company. The items imported by Oppo were reportedly used for the manufacture of mobile phones in the country. The DRI has claimed that Oppo mis-declared the items to avail ineligible duty exemption benefits. It has claimed that the company availed an exemption of ₹2,981 crore. It looks like DRI has a strong case as the senior management of Oppo and domestic suppliers of the company have accepted the submission of wrongful descriptions to the Customs Authorities to evade payment of customs duty. <cmsannotation type="cmsannotation" annotationid="Oppo sent over ₹1,400 crore to China" comment="subhead" text="Oppo sent over ₹1,400 crore to China">Oppo sent over ₹1,400 crore to China</cmsannotation> Oppo reportedly also remitted a huge amount to China for payment of “Royalty” and “license fee”. The DRI has claimed that Oppo did not add the amount remitted to China in the transaction value of goods imported by them. This allowed the company to further evade customs duty of ₹1,408 crore, bringing the total amount of customs duty evasion to ₹4,389 crore. “After completion of the investigation, a Show Cause Notice has been issued to <keyword id="2034172" type="General" weightage="20" keywordseo="oppo-india" source="Orion">Oppo India</keyword> demanding Customs duty amounting to ₹4,389 crore. The said Notice also proposes relevant penalties on Oppo India, its employees and <keyword id="3513260" type="General" weightage="20" keywordseo="oppo-china" source="Orion">Oppo China</keyword>, under the provisions of the Customs Act, 1962”, the PIB release quoted DRI. <cmsannotation type="cmsannotation" annotationid="Oppo deposits ₹450 crore" comment="subhead" text="Oppo deposits ₹450 crore">Oppo deposits ₹450 crore</cmsannotation> Oppo has reportedly already deposited ₹450 crore as partial differential customs duty short. This means the Chinese smartphone maker will still have to pay ₹3,939 crore in customs duty. “We have a different view on the charges mentioned in the SCN. We believe it's an industry-wide issue many corporates are working on. OPPO India is reviewing the SCN received from DRI, and we are going to reply the notice, presenting our side, and will be working further with the related government departments. OPPO India is a responsible corporate and believes in prudent corporate governance framework. OPPO India will take appropriate steps as may be needed in this regard including any remedies provided under the law," Oppo said in a statement to Business Insider India. <cmsannotation type="cmsannotation" annotationid="Oppo joins Vivo, Xiaomi, and other Chinese smartphone makers" comment="subhead" text="Oppo joins Vivo, Xiaomi, and other Chinese smartphone makers">Oppo joins Vivo, Xiaomi, and other Chinese smartphone makers</cmsannotation> This comes at a time when other Chinese smartphone makers are already under the scanner of Indian agencies for tax evasion, money laundering and other violations. Oppo’s sister company Vivo recently came under the <a href="https://www.businessinsider.in/tech/enterprise/news/ed-has-reportedly-raided-44-locations-of-vivo-and-related-firms-across-the-country/articleshow/92672031.cms">scanner</a> of the Enforcement Directorate after the agency alleged that Vivo <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">remitted</a> ₹62,476 crore, which is around 50% of its revenue over a five-year period to its parent company in China to avoid paying taxes. The ED is also investigating Xiaomi over <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">allegations</a> that the company remitted ₹5,551.27 illegally. Huawei also came under the scanner of the Income Tax department after the company <a href="https://www.businessinsider.in/tech/enterprise/news/chinese-smartphone-maker-huawei-comes-under-the-it-departments-scanner-over-tax-evasion/articleshow/92739828.cms">remitted</a> ₹750 crore as dividends to evade taxes. SEE ALSO: <a>Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe</a> <a>After Xiaomi, Vivo comes under the Enforcement Directorate’s scanner</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">Vivo reportedly transferred nearly $8 billion to its parent company in China</a>

Oppo comes under DRI scanner for alleged customs duty evasion of ₹4,389 crore

<ul><li>Indian authorities prevented Chinese smartphone maker Vivo from exporting 27,000 smartphones worth $15 million for more than a week.</li><li>Chinese state-run publication <keyword id="107898" type="General" weightage="50" keywordseo="global-times" source="Orion">Global Times</keyword> has said that Indian officials should ensure compliance with laws and regulations, increase transparency, and protect the legitimate rights and interests of the Chinese mobile phone maker.</li></ul>Amid reports that Indian authorities prevented Chinese smartphone maker Vivo from exporting 27,000 smartphones worth $15 million for more than a week, Chinese state-run publication Global Times has said that Indian officials should ensure compliance with laws and regulations, increase transparency, and protect the legitimate rights and interests of the Chinese mobile phone maker. Whether this Vivo incident can be well resolved will have a strong demonstration effect on a vast number of other foreign companies, said a commentary in the publication, adding that the issue has once again raised eyebrows among Chinese companies about the <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>n market, given India's growing restrictions and investigations targeting Chinese companies this year. "Relevant departments in India need to further investigate and make clarifications in a timely manner to dispel anxiety among the business community," said the publication. "Vivo, on the other hand, should actively cooperate with relevant departments in India to clarify the actual situation. If the company has received unfair treatment, it should not hesitate to take effective measures to defend its legitimate interests," it added. According to the report, Chinese companies such as Vivo have long contributed to the Indian economy and operate legally. "India's economic growth needs foreign investment. If India uses more unfair practices to aggravate foreign companies' concerns, it will not only hurt the interests of Chinese companies, but the reputation of India's business environment may be irreversibly damaged," claimed the report. According to technology analysts, it will be difficult for India to rid its dependence on <keyword id="1334" type="General" weightage="20" keywordseo="china" source="Orion">China</keyword>'s relatively cost-effective mobile phones. India has stepped up its crackdown on Chinese firms over the years. The Indian government is looking into cases of alleged tax evasion by three Chinese mobile companies -- OPPO, <keyword id="2829414" type="General" weightage="50" keywordseo="vivo-india" source="Orion">Vivo India</keyword>, and Xiaomi. The companies were served notices by the <keyword id="58154" type="General" weightage="50" keywordseo="directorate-of-revenue-intelligence" source="Orion">Directorate of Revenue Intelligence</keyword> (DRI) for duty evasion. India has also banned more than 300 Chinese apps, including Tencent's WeChat and <keyword id="3749909" type="General" weightage="50" keywordseo="bytedance" source="Orion">ByteDance</keyword>'s TikTok. The country is now bolstering its domestic smartphone and chip manufacturing sector. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/apple-expands-end-to-end-encryption-to-icloud-in-a-bid-to-make-it-safer-for-vulnerable-profiles-like-celebrities-activists-or-journalists/articleshow/96080515.cms">Apple expands end-to-end encryption to iCloud in a bid to make it safer for vulnerable profiles like celebrities, activists, or journalists</a> <a href="https://www.businessinsider.in/tech/apps/news/best-ai-powered-apps-and-websites-that-will-increase-your-work-experience/articleshow/96051415.cms">Here are some free AI-powered apps and tools to try right now</a>

India should protect legitimate rights and interests of Vivo: Chinese state media

<ul><li>The Indian government is reportedly planning on restricting Chinese smartphone makers from the budget smartphone segment.</li><li>A report has revealed that the government intends to restrict Chinese companies from the sub-₹12,000 segment.</li><li>The decision will impact companies like <keyword id="874458" type="General" weightage="80" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> and <keyword id="6485927" type="General" weightage="80" keywordseo="realme" source="Orion">Realme</keyword> which dominate the budget segment.</li></ul>In a blow to Chinese smartphone makers, the Indian government is reportedly planning on restricting Chinese companies from the budget smartphone segment, preventing them from selling devices under ₹12,000 in the country. According to a <a href="https://www.bloomberg.com/news/articles/2022-08-08/india-seeks-to-oust-china-firms-from-sub-150-phone-market">report</a> by Bloomberg, the Indian government is planning on restricting Chinese smartphone makers like Xiaomi, Realme, <keyword id="215177" type="General" weightage="100" keywordseo="vivo" source="Orion">Vivo</keyword> and Oppo from the sub-₹12,000 segment to give a boost to the domestic smartphone makers. The report citing people familiar with the matter said that the move comes after concerns were raised over “high-volume brands like Realme undercutting local manufacturers”. According to a Counterpoint Research report, sub-₹12,000 smartphones account for a quarter of India’s smartphone shipments in the last quarter and 80% of this comes from Chinese smartphone makers like Xiaomi, Realme and Vivo. This move will benefit companies like Micromax and Lava which haven’t been able to offer similar features as the Chinese smartphone makers. However, this may come as bad news for consumers as they will likely have to pay a higher price or settle with subpar devices due to the lack of competition. Chinese smartphone makers have been under the scanner for quite some time now. Finance Minister Nirmala Sitharaman recently <a href="https://www.businessinsider.in/tech/news/xiaomi-oppo-and-vivo-and-other-chinese-smartphone-makers-under-investigation-nirmala-sitharaman-confirmed/articleshow/93315507.cms">revealed</a> that the government is investigating Xiaomi, Oppo, and Vivo. Xiaomi had come under the scanner of the ED after the agency had claimed that the company had <a href="https://www.businessinsider.in/business/news/exclusive-84-of-the-5551-27-crore-seized-from-xiaomi-india-were-remitted-to-qualcomm-group/articleshow/91560593.cms">illegally remitted</a> ₹5,551.27 crore to three foreign entities. Oppo had come under the <a href="https://www.businessinsider.in/tech/enterprise/news/oppo-comes-under-dri-scanner-for-alleged-customs-duty-evasion-of-4389-crore/articleshow/92848544.cms">scanner</a> of the Directorate of Revenue Intelligence (DRI), for customs duty evasion. The ED had also claimed that Vivo had transferred nearly <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-reportedly-transferred-nearly-8-billion-to-its-parent-company-in-china/articleshow/92726095.cms">$8 billion</a> to its parent company in China over five years to evade taxes. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/xiaomi-oppo-and-vivo-and-other-chinese-smartphone-makers-under-investigation-nirmala-sitharaman-confirmed/articleshow/93315507.cms">Finance Minister Nirmala Sitharaman reveals government is investigating multiple Chinese smartphone makers for tax evasion</a> <a href="https://www.businessinsider.in/tech/apps/news/why-is-battlegrounds-mobile-banned-in-india/articleshow/93265968.cms">BGMI ban in India – why was the game banned, is the game still working, and everything you need to know</a> <a href="https://www.businessinsider.in/tech/enterprise/news/vivo-allegedly-sent-62476-crore-to-china-to-evade-taxes-in-india-heres-everything-you-need-to-know/articleshow/92742439.cms">Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe</a>

Indian government is reportedly planning on restricting Xiaomi, Realme, Vivo and Oppo from the budget smartphone segment

Chinese smartphone maker <keyword id="874458" type="General" weightage="80" keywordseo="xiaomi" source="Orion">Xiaomi</keyword> on Friday said the ongoing investigations and allegations in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> could take a long period of time to settle, and the company could receive judgments or enter into "settlements that may adversely affect its operating results or cash flows". The company, which registered around 20 per cent drop in its global sales at $10.31 billion in the June quarter (Q2), said that "it is not practical to quantify" related financial effects (of India probes) "at this stage". "The management assessed the aforesaid matters related to <keyword id="2210169" type="General" weightage="80" keywordseo="xiaomi-india" source="Orion">Xiaomi India</keyword>, taking into consideration opinions from professional advisors and concluded Xiaomi India has valid grounds to respond to the relevant Indian authorities," the group said in its quarterly financial statement. In April, the Enforcement Directorate (ED) had said they seized Rs 5,551.27 crore of Xiaomi India, lying in the bank accounts under the provisions of Foreign Exchange Management Act, in connection with the illegal outward remittances made by the company. Finance Minister Nirmala Sitharaman had informed the Rajya Sabha, in the recent Monsoon session, that five cases of customs duty evasion have been registered against Xiaomi India by the Directorate of Revenue Intelligence (DRI). The company said in its quarterly results that since December 2021, Xiaomi India has been involved in various investigations and notifications initiated by relevant Indian authorities including the Income Tax Department, the Directorate of Revenue Intelligence and the Directorate of Enforcement "in relation to compliance of relevant income tax regulations, custom duties regulations as well as foreign exchange regulations". Xiaomi India further received an order on August 11, "whereby certain of its bank deposits were continued to be restricted, alleging Xiaomi India has inappropriately deducted certain costs and expenses, including purchase costs of mobile phones and royalty fees paid to third parties as well as companies within the Group". The government is looking into cases of alleged tax evasion by three Chinese mobile companies -- OPPO, Vivo India and Xiaomi. A show-cause notice demanding Rs 4,403.88 crore has been served to OPPO Mobiles India Ltd based on an investigation conducted by the DRI. The DRI also detected customs duty evasion of around Rs 2,217 crore by Vivo India. For Chinese enterprises that originally tried to make India an overseas product-processing centre, if it is indeed increasingly difficult and unprofitable to operate in the country, then withdrawing from India is also an available option, state-run Global Times said earlier this month. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/there-is-a-yawning-gap-between-the-confidence-of-consumers-and-businesses/articleshow/93662752.cms">There is a yawning gap between the confidence of consumers and businesses</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/tiktoks-in-app-browser-on-ios-includes-code-that-can-monitor-your-keystrokes-and-taps/articleshow/93662878.cms">TikTok’s in-app browser on iOS includes code that can monitor your keystrokes and taps</a>

Xiaomi is worried that investigations in India might affect it cash flows, operating results

Chinese smartphones continue to lead the market share despite crackdown by the Indian government

<ul><li>The <keyword id="6355629" type="General" weightage="100" keywordseo="google" source="Orion">Google</keyword> search engine faced an outage today and thousands of users were not able to access Search.</li><li>Users reported seeing a 502 error while trying to use the search engine.</li><li>The cause for the outage is not known at the moment.</li></ul>Google has become an important part of our life and is something that users often refer to for important information. But what do you do when Google Search is down? A lot of users across the world faced the issue today when Google stopped working. According to <a href="https://downdetector.in/status/google/">Down Detector</a>, a popular website that tracks the status of services, thousands of users today reported that the Google Search engine was down. <div type="twitter" handle="win_win_2022" handlename="Jakey jake🔥" image="http://pbs.twimg.com/profile_images/1377625304747945993/9l5TS7iS_normal.jpg" favoritecount="0" retweetcount="0" status="Is Google down for anyone else? I’d Google it, but ya know… #GoogleDown https://t.co/9rbvUWNhuN" createdat="1660017090000" id="1556850631549206529"></div> Users <a href="https://twitter.com/win_win_2022/status/1556850631549206529">reported</a> seeing a 502 error while trying to search something. "502. That's an error. The server encountered a temporary error and could not complete your request. Please try again in 30 seconds. That's all we know," the error message read. Some users also reported a different error message. "We are sorry but it appears that there has been an internal server error while processing your request. Our engineers have been notified and are working to resolve the issue. Please try again later." People have taken to social media platforms like Twitter to talk about the outage, joking that where should they search for information. <div type="twitter" handle="AmberKelseyy" handlename="Amber Kelsey" image="http://pbs.twimg.com/profile_images/1473806044753121284/zijzYwtr_normal.jpg" favoritecount="111" retweetcount="26" status="How am I supposed to Google “Is Google down” when Google is down?!? #google" createdat="1660009118000" id="1556817196755496962"></div> <div type="twitter" handle="NeilaSpace" handlename="Neila" image="http://pbs.twimg.com/profile_images/1552598866742202369/NDpd4bJW_normal.jpg" favoritecount="1" retweetcount="0" status="#googledown 🚨 https://t.co/oXmBsZ5tLQ https://t.co/avhPAnpeUg" createdat="1660012175000" id="1556830019518926848"></div> <div type="twitter" handle="remier_acbang" handlename="1038" image="http://pbs.twimg.com/profile_images/1523342284489564160/MfVB_MSw_normal.jpg" favoritecount="306" retweetcount="47" status="Me switching to twitter after experiencing error 500 in google#Google #googledown https://t.co/hu4TMsB2K5" createdat="1660009494000" id="1556818773662765056"></div> At the moment, the reason for the outage is not known. A <a href="https://www.sfgate.com/news/article/google-electrical-incident-injures-3-17360321.php">report</a> by SFGATE has revealed that a “large explosion” has been reported at a Google Data Center in Iowa. The explosion injured three workers at the center and could be the reason for the outage across the world. “We are aware of an electrical incident that took place today at Google’s data center in Council Bluffs, Iowa, injuring three people onsite who are now being treated,” a Google spokesperson said in a statement to SFGATE. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-government-is-reportedly-planning-on-restricting-xiaomi-realme-vivo-and-oppo-from-the-budget-smartphone-segment/articleshow/93432631.cms">Indian government is reportedly planning on restricting Xiaomi, Realme, Vivo and Oppo from the budget smartphone segment</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-may-finally-introduce-its-first-electric-car-on-august-15/articleshow/93362208.cms">Ola Electric may finally introduce its first electric car on August 15</a> <a href="https://www.businessinsider.in/tech/news/xiaomi-oppo-and-vivo-and-other-chinese-smartphone-makers-under-investigation-nirmala-sitharaman-confirmed/articleshow/93315507.cms">Finance Minister Nirmala Sitharaman reveals government is investigating multiple Chinese smartphone makers for tax evasion</a>

You Searched For "vivo tax evasion" and got 11 results

Delhi High Court allows Vivo to operate its bank accounts if it’s ready to furnish a ₹950 crore bank guarantee

Sourabh Jain

Finance Minister Nirmala Sitharaman reveals government is investigating multiple Chinese smartphone makers for tax evasion

Sourabh Jain

Chinese smartphone maker Huawei comes under the IT department’s scanner over tax evasion

Sourabh Jain

Vivo's offices caught with 2 kilo gold bars after sending ₹62,000 crore back to China – all you need to know on the ED probe

Sourabh Jain

Vivo moves Delhi HC challenging freezing of its bank accounts by ED

IANS

Oppo comes under DRI scanner for alleged customs duty evasion of ₹4,389 crore

Sourabh Jain

India should protect legitimate rights and interests of Vivo: Chinese state media

IANS

Indian government is reportedly planning on restricting Xiaomi, Realme, Vivo and Oppo from the budget smartphone segment

Sourabh Jain

Xiaomi is worried that investigations in India might affect it cash flows, operating results

IANS

Chinese smartphones continue to lead the market share despite crackdown by the Indian government

Sourabh Jain

Google outage affects thousands of users, people start complaining on Twitter

Sourabh Jain

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