Tax raids on Chinese Telecom Company..!?

The indian IT department (Income Tax Department) seems to have given a shock to huawei, a leading Chinese telecom company. Official sources said on wednesday that the Income Tax Department had conducted searches in various parts of the country's Chinese telecom company huawei as part of an investigation into tax evasion.
The attacks took place at company premises in Gurugram (Haryana) in delhi and Bangalore in Karnataka. It is learned that the attacks took place at the Bangalore premises in karnataka on Tuesday. Officials examined Huawei's indian businesses, financials of foreign transactions, books of accounts, and company records. Authorities said some records were also seized. However, huawei said in a statement that its operations in india are subject to the laws and regulations of that country.

Company officials said they were informed that an income tax team had visited our office and had inquired about some of the staff. The indian government has put huawei away from trials for 5g services. It is learned that the central government has kept huawei away from trials for 5g services following allegations of tax evasion against Huawei. Under the old agreements, however, huawei allowed telecom operators to source telecom gear from ZTE to operate their networks.
However, according to the National Security Directorate on the telecommunications sector, they need government approval before entering into any new business agreement.
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Sowmiya Sriram

16/02/2022 04:55 PM