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Electronics

India accuses Chinese smartphone maker Vivo of tax fraud

Company said to have operated scheme to take $8bn out of country

A Vivo store in Ahmedabad, India. Chinese smartphone vendors account for more than 60% of the Indian market.   © Reuters

BENGALURU -- Indian operations of Chinese smartphone maker Vivo were accused Thursday by the government's anti-money-laundering agency of channeling 624.76 billion rupees ($7.9 billion) outside the country, mostly to China, to avoid paying taxes.

The amount is around half of Vivo India's total sales of about 1.25 trillion rupees earned since opening for business here in 2014.

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