RESEARCH TRIANGLE PARK – Lenovo, the world’s top PC manufacturer, is being investigated for possible tax evasion at its operations in India, according to media reports.
The tech giant, which operates headquarters in the Triangle and Beijing, told Reuters news that it is co-operating.
The Hindu described as a “raid” a visit to Lenovo operations and said the tax officials “conducted searches.”
“Official sources” were cited by The Hindu for its story.
Lenovo confirmed what Reuters described as a “visit” and quoted the company as saying it is “co-operating with the authorities and will provide all possible support required.”
“We adhere strictly to all applicable laws, regulations, and reporting requirements in every jurisdiction in which we do business,” Reuters quoted Lenovo as saying.
According to The Hindu, “the taxman suspects tax evasion and hence, has launched the searches to gather evidence and corroborate actionable intelligence obtained by it in this regard.”
Lenovo generated nearly $2 billion in revenue last year, The Hindu noted.
For more details, read The Hindu story online.