BBC Tax Evasion Runs Into Crores

English News 14 Feb 2023 10

Income Tax officials surveyed BBC offices in Mumbai and Delhi..

The Income Tax Department has found that the alleged tax evasion by the BBC amounts to a few crores, sources have revealed. Moreover, it has come to the fore that several notices were served to the company earlier asking it to explain certain transfer pricing related payments. In its official statement, the I-T department said on Tuesday that the surveys in BBC's Delhi and Mumbai offices were conducted due to "deliberate non-compliance with the Transfer Pricing Rules and its vast diversion of profits," by the media house. 

Sources also revealed that the agency suspects BBC's tax evasion by claiming services and costs that were not incurred or suspected to be bogus in nature to save on taxes. In addition to this, prima facie there are discrepancies in the transactions between parent company and place of effective management (POEMs), the I-T department has found. Meanwhile, documents related to the company along with pendrives and laptops have been seized. 

read more at republicworld

English News

Living in India