iPhone supplier Foxconn facing tax audit, land use probe – Chinese state media

Here we are sharing a piece of big news with you that Foxconn Technology has been facing security through tax audits and on-site investigations at some of its significant associates, Reuters reported citing a Chinese state media report on 22 October 2023. Since the news has come on the internet it went viral on the social media platforms. Now many people are super curious to know about the whole information about the news. Here we have more information about the news and we will share it with you in this article, so let’s continue the article.

iPhone

Domestically known as Hon Hai Precision Industry Company in China, Foxconn has been the most extensive supplier of iPhones for Silicon Valley tech giant Apple. Hon Hai Precision Industry Co, Ltd, trading as Hon Hai Technology Group in China and Taiwan and Foxconn internationally, is a Taiwanese multinational electronic contract manufacturer established in 1974 with headquarters in Tucheng, New Taipei City, Taiwan. Since the news came on the internet and it went viral on many social media platforms uncounted reactions started hitting the headlines as many people were keen to know about the whole information. Scroll down to the next page for more information about the news.

What is happening?

China’s natural resource department has initiated an on-site inquisition into the usage of the Foxconn company in Hubei province, Henan province and other areas. The development has been revealed in an exclusive report by Chinese media major the Global Times. There was however no additional information about the investigations or their timing, it added. Foxconn did not comment outside hours. Now many people are searching the news as they want to know about audits. You are on the right page for more information about the news so please read the complete article article.

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Tax audits and land use investigations have been standard procedures used for businesses suspected of violating rules and laws, Zhang Weneshang, the deputy dean of the Taiwan Research Institute of Xiamen University informed the Global Times. Zhang emphasized that it is essential for Foxconn’s subsidiaries to collaborate actively with these audits and investigations.”Foxconn’s deputies have been obliged to actively cooperate with audits and investigations and if there are indeed violations of laws and regulations, they should admit mistakes accept penalties and step up recertification. Here we have shared all the information which we had if we will share with you in this article. Stay tuned to us for more updates.

Mark
Gurleen Kaur

I'm a science graduate from the Ahmadu Bello University, Nigeria. My passion for writing has brought me to into the field of content.