NEW DELHI (Reuters) – An Indian tax investigation into China’s Huawei Technologies has found the telecoms equipment maker manipulated account books to reduce its taxable income in the country, an Indian government source told Reuters on Thursday.
Without naming the company, India’s Ministry of Finance said on Thursday a major telecoms group did not account for income of 4 billion rupees ($52 million) in its books, and showed expenses of 4.8 billion rupees that the firm failed to justify.
A Huawei spokesperson in India did not immediately respond to a request for comment.
Last month, India’s income tax authorities conducted searches at Huawei’s office premises in New Delhi, neighbouring Gurugram and tech hub Bengaluru. The government conducted raids at the residences of its senior executives as well.
The government said more investigations were in process.
($1 = 75.8825 Indian rupees)
Source : Reuters
