Oppo India: DRI Unearths Rs 4,389-Crore Customs Duty Evasion
New Delhi: Searches at the premises of mobile company Oppo India resulted in the unearthing of a customs duty evasion of Rs 4,389 crore by the Directorate of Revenue Intelligence (DRI), according to an official statement on Wednesday. Oppo India is a subsidiary company of China-based Guangdong Oppo Mobile Telecommunications Corporation Ltd.
The searches come days after the Enforcement Directorate (ED) conducted raids against Chinese smartphone manufacturer Vivo and related firms at more than 40 places across India in a money-laundering investigation. The ED said the company’s Indian arm “remitted” almost 50 per cent of its turnover, which is Rs 62,476 crore to China to avoid taxes here, News18 reported.
“During an investigation pertaining to M/s Oppo Mobiles India Private Limited (hereinafter referred to as Oppo India), a subsidiary company of Guangdong Oppo Mobile Telecommunications Corporation Ltd, China (hereinafter referred to as Oppo China), the Directorate of Revenue Intelligence (DRI) has detected customs duty evasion of around Rs 4,389 crore,” the finance ministry said in a statement on Wednesday.