your current location is：Home > Finance > NewsletterHomeNewsletter

the Directorate of Revenue Intelligence (DRI) of India issued a notice on August 3, accusing vivo of tax evasion of 22.17 billion rupees (about 1.89 billion yuan). The DRI alleges that a search of vivo India's factory found that vivo India deliberately made false declarations in the description of certain imported products, which were used to make mobile phones.

It is worth mentioning that in July, the Indian Law Enforcement Agency raided the Chinese mobile phone manufacturer vivo and other related companies in 44 locations across the country, claiming to investigate whether they were engaged in so-called money laundering activities.

Subsequently, India's financial crime agency said on Thursday that it had blocked 119 bank accounts linked to Vivo's India business holding 4.65 billion rupees (about 390 million yuan) as part of an investigation into alleged money laundering.

However, on July 13, local time, the Delhi High Court of India allowed the unfreezing of vivo bank accounts, provided that vivo provides a guarantee of 9.5 billion Indian rupees (about 119 million US dollars) to the bank. The court also directed vivo to keep a balance of Rs 2.5 crore in the account.