Chinese automaker BYD is under investigation by Indian authorities over allegations that it underpaid tax on imported car parts. The investigation has determined that BYD owes $9m in unpaid tax on parts it imported and used to assemble cars, prompting the automaker to deposit the amount with Indian authorities. However, the DRI is continuing the investigation and could impose additional tax liabilities and penalties on the company.
‘Chinese carmaker BYD faces tax probe in India’
Chinese automaker BYD is under investigation by Indian authorities over allegations that it underpaid tax on imported car parts. The investigation has determined that BYD owes $9m in unpaid tax on parts it imported and used to assemble cars, prompting the automaker to deposit the amount with Indian authorities. However, the DRI is continuing the investigation and could impose additional tax liabilities and penalties on the company.