Home Tech Xiaomi India dodges taxes – the government demands to pay off the debt in the amount of $ 88 million

Xiaomi India dodges taxes – the government demands to pay off the debt in the amount of $ 88 million

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Xiaomi India dodges taxes – the government demands to pay off the debt in the amount of $ 88 million

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Xiaomi India dodges taxes - the government demands to pay off the debt in the amount of $ 88 million

Xiaomi’s Indian subsidiary is at the center of a scandal. The Treasury Department is demanding that the manufacturer pay off $ 6.53 billion Indian rupees, the equivalent of $ 88 million.

The debt appeared as a result of the fact that Xiaomi India avoided paying import duties for three years – from April 2017 to June 2020. Based on the materials of the investigation, the government sent notices to the Xiaomi office three times about the lack of funds.

As for the investigation itself, it was carried out by the Directorate of Financial Intelligence, subordinate to the Ministry of Finance of India. As a result of searches carried out in the office of the Indian division of Xiaomi, it was possible to find documents confirming the fact of a violation of the law.

As it turned out, the company did not add licensing fees to Qualcomm and Beijing Xiaomi Mobile Software to transactions for goods imported into India by a local Xiaomi dealership. As a result, the manufacturer avoided paying customs duties for 39 months.

Xiaomi India has not given official comments on this yet.

A source: CNBC

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