Vivo India remitted Rs 62,476 crore, mainly to China: ED

NEW DELHI: The Enforcement Directorate (ED) has alleged that Vivo India remitted Rs 62,476 crore, almost half of its turnover out of India, mainly to China. “These remittances were made in order to disclose huge losses in Indian incorporated companies to avoid payment of taxes in India,” ED alleged in a statement on Thursday.

It said that out of the total sale proceeds of Rs 1,25,185 crore, Vivo India remitted Rs 62,476 crore, mainly to China.