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Huawei Did Not Account For Income Worth $4 Billion In India, Evaded Taxes: Report
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Huawei Technologies manipulated its account books to reduce its taxable income in India, Reuters reports.
The international news organisation claims that the finance ministry said that a major telecoms group did not account for income worth $4 billion in their books.
Moreover, the unnamed firm failed to justify expenses amounting to $4.8 billion as well.
The income tax offices had raided Huawei’s office premises in Gurugram, New Delhi and Bengaluru last month.
Searches were carried out in the houses of the senior executives of the company too.
Previously, the central government left out Huawei from the list of foreign network equipment suppliers that were allowed to conduct 5G trials in India.
The United States of America (USA) has reportedly asked its allies to exclude Huawei from their respective 5G networks due to concerns regarding spying.
Further investigations on Huawei’s operations in India are underway by the finance ministry officials.
The company has already run into trouble due to trade restrictions imposed by the American administration over the sale of chips and other components used in its network gear and smartphones businesses.
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