This Thursday (3) the Indian government disclosed that Chinese company Huawei Technologies manipulated the accounting books to reduce taxable income in the country. The change made by the telecom equipment maker was discovered by a tax investigation.
The name of Huawei was disclosed by an Indian government source to the International News Agency. Reuters, Meanwhile, the Indian finance ministry did not name the company. Folder only said that a large conglomerate did not report revenue of over 4 billion rupees on the books, about US$52 million or more than $260 million.
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The ministry further disclosed that the telecom group showed an expenditure of Rs 4.8 billion, but was unable to justify the expenditure. The agency said that further investigation is on. Meanwhile, Huawei in India declined to comment on the allegations.
In February, Indian tax officials visited Huawei’s New Delhi office and Bengaluru Technology Center. Top executives of the company have also targeted their homes in infiltration by the Indian government.
The case in the country adds to the US campaign asking allies to take the company out of its 5G network. The bigger concern is the potential for espionage, but Huawei denies any security risk. The company also faced trade restrictions imposed by the US government on the sale of chips and other components.
The Indian government also ignored Huawei when it named foreign network equipment providers authorized to conduct 5G trials.
Via: Reuters
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