Xiaomi Gets $88M Tax Notice That India Says Co. Evaded (1)

India has issued three show-cause notices to Xiaomi Technology India Pvt. for recovery of 6.53 billion rupees ($88 million) in taxes the company didn’t pay, the nation’s finance ministry said in a statement.

• The ministry said searches at the premises of Xiaomi India as part of a probe showed the company was remitting royalty and license fees to Qualcomm and Xiaomi Mobile Software, which were not added in the transaction value of the goods it imported
• Co. and its contract manufacturers were also not including the royalty paid for MI brand mobile phones and their parts it imported in the ...