A hefty fine of Rs 653 crores has been imposed on Xiaomi by the Ministry of Finance in India, as the company has reportedly evaded tax in the country. This news comes after it was recently suggested that both Oppo and Xiaomi will be slapped with a fine of up to Rs 1,000 crores in India. Here’s what happened.
Based on intel, it was found that Xiaomi India has evaded customs duty by the way of undervaluation, as per the report. Following this, an investigation was conducted by the Directorate of Revenue Intelligence (DRI) against Xiaomi and its contractors.
In an official statement, Xiaomi said, “At Xiaomi India, we give utmost importance to ensuring we comply with all Indian laws. We are currently reviewing the notice in detail. As a responsible company, we will support the authorities with all necessary documentation.“
