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Business By Dustin Moskovitz On Jul 8, 2022 0 Share The Enforcement Directorate on Thursday alleged thatVivo India remitted almost 50% of the sale proceeds overseas, mainly to China, to disclose huge losses in several domestically incorporated companies to avoid payment of taxes in India. “Vivo is cooperating with the authorities to provide them with all required information. As a responsible corporate, we are committed to be fully compliant with laws,” Vivo India’s spokesperson had earlier said. The ED statement came two days after it conducted searches at 48 locations across the country, including the premises linked to Vivo India...
