Foxconn faces tax audit, land use probe in China, Legal News, ET LegalWorld | Court Practice News


Taiwan’s Foxconn, the largest supplier of Apple iPhones, is the subject of tax audits in China at some of its key subsidiaries, suspected of violating laws and regulations, Chinese state media reported on Sunday.

China’s natural resources department also conducted on-site investigations on the land use of Foxconn enterprises in Henan and Hubei provinces and elsewhere, the nationalist tabloid the Global Times reported. It did not elaborate on the investigations or the timing of them.

“Legal compliance everywhere we operate around the world is a fundamental principle of Hon Hai Technology Group (Foxconn),” the company said in a statement, without addressing the allegations. “We will actively cooperate with the relevant units on the related work and operations.”

Zhang Wensheng, deputy dean of the Taiwan Research Institute of Xiamen University, told the Global Times the audit and land use investigations was a normal procedure that would apply to any enterprise suspected of violating laws and regulations.

“Foxconn’s subsidiaries are obliged to actively cooperate with audits and investigations, and if there are indeed violations of laws and regulations, they should admit mistakes and accept penalties and step up rectification,” Zhang said.

  • Published On Oct 22, 2023 at 11:45 PM IST

Join the community of 2M+ industry professionals

Subscribe to our newsletter to get latest insights & analysis.

Download ETLegalWorld App

  • Get Realtime updates
  • Save your favourite articles


Scan to download App



Leave a Reply

Your email address will not be published. Required fields are marked *

Next Post

CJI Chandrachud receives Harvard Law School's 'Award for Global Leadership', ET LegalWorld | Court Practice News

Sun Oct 22 , 2023
Chief Justice of India (CJI) DY Chandrachud has received the ‘Award for Global Leadership’, the highest professional distinction handed out by his alma mater, Harvard Law School. The Chief Justice was announced as the recipient of the award on January 11, this year, in an online ceremony. The Chief Justice […]

You May Like

Breaking News