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Foxconn faces tax audit, land use probe in China
Financial Express Mumbai
|October 23, 2023
KEY IPHONE ASSEMBLER Hon Hai Precision Industry said it will collaborate with Chinese authorities on unspecified probes, following a report that officials are conducting tax audits and reviewing land use by parent Foxconn Technology
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Tax authorities are conducting checks on Foxconn subsidiaries in Guangdong and Jiangsu provinces, the staterun Global Times said Sunday, citing unidentified people with knowledge of the matter. The report also said natural resources officials are looking into the company's use of land in Henan and Hubei provinces.
No further details of the investigations and tax checks were provided in Global Times' report. Hon Hai didn't give specifics either in a filing with Taiwan's stock exchange. Foxconn's Zhengzhou plant, known as iPhone City, is located in Henan.
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