News Snapshot:
Vivo Scam: Loss shown instead of paying tax in India, thousands of crores sent to China Chinese smartphone company Vivo is allegedly accused of money laundering. Vivo was sending money directly to China instead of paying taxes in India. Vivo’s India unit is accused of sending Rs 62,476 crore to China. This is about 50% turnover of the company. The Enforcement Directorate (ED) had recently arrested Vivo Mobile India Pvt. Ltd. And raided 23 locations related to the company. Indian investigative agencies had also seized about Rs 465 crore during this raid. Vivo India did not pay tax According to...
