Xiaomi says it is fully cooperating with an investigation into alleged tax evasion


New Delhi, April 13 (SocialNews.XYZ) Global tech brand Xiaomi said on Wednesday it was cooperating fully with relevant law enforcement authorities in India, amid reports that the company was being questioned by the Law Enforcement Directorate (ED ) for alleged violation of foreign exchange laws.

In a statement shared with IANS, Xiaomi said it is a law-abiding and responsible company.

“We place paramount importance on the laws of the country. We fully comply with and believe in all regulations. We are cooperating with the authorities in their ongoing investigation to ensure they have all the necessary information,” said said the company spokesperson. .

Previous reports alleged that former Indian chief executive of Xiaomi, Manu Kumar Jain, was summoned by ED to record his statement in an ongoing investigation related to an alleged breach of foreign exchange laws.

According to sources, ED aims to ensure that the company’s business practices are compliant with India’s foreign exchange laws or not.

Some other Chinese tech companies are also under the radar of law enforcement in India for alleged tax evasion.

The income tax department raided several premises linked to tech conglomerate Huawei across the country in February in connection with suspected tax evasion.

The company had said that its operations in India were firmly in compliance with all laws and regulations.

Multiple tax raids were carried out at the premises of Chinese smartphone makers in the country in January.

Source: IANS

Xiaomi says it is fully cooperating with an investigation into alleged tax evasion

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