Income Tax Department raids Chinese telecom company Huawei for tax evasion

According to an IANS report, the raids are taking place in the National Capital Region (NCR), Bengaluru, and other parts of the country. The tax authorities are going through a number of the company’s account books. Raids have been conducted at the company’s headquarters in Delhi, Gurugram, and Bengaluru, Karnataka. According to the sources, officials examined Huawei’s financial documents, account books, and company records as part of a tax evasion investigation. During the exercise, some records were also seized.

Income Tax Department conducting searches at Chinese telecom company Huawei as part of a tax evasion investigation. Raids are going at the company's premises in Delhi, Gurugram, and Bengaluru in Karnataka since yesterday.

— ANI (@ANI) February 16, 2022

Income Tax officials, according to sources, combed through financial documents, account books, and company records as part of a tax evasion investigation into the company, its Indian businesses, and overseas transactions. Some of the papers were confiscated.

Huawei stated in a statement that its operations in India were “firmly compliant” with Indian law. “We were informed of the Income Tax team’s visit to our office, as well as their meeting with some personnel.” Huawei is confident that its operations in India are fully compliant with all applicable laws and regulations. “We will approach relevant government departments for more information and will fully cooperate in accordance with the rules and regulations and the correct procedure,” Huawei said in a statement.

 

Last year, the Income Tax Department conducted searches against Chinese firms such as Xiaomi and Oppo, as well as entities linked to them, claiming to have discovered unaccounted income totaling over Rs 6,500 crore derived from violations of tax laws and regulations.