India is Reportedly Block ByteDance's Bank Accounts- PingWest
source link: https://en.pingwest.com/w/8474
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.
India is Reportedly Block ByteDance's Bank Accounts
April 2, 2021 11:31 amBeijing (PingWest)- Beijing based ByteDance, whose video-sharing platform TikTok being banned last June in India, is reportedly suffered a new round of sanction in India, with a least two of its bank accounts being blocked for alleged tax evasion.
In a court filing, ByteDance India said the blocking decision was an abuse of the legal process and would make it hard for it to pay salaries and taxes, Reuters reported, citing a source.
ByteDance India has said that it had about USD10 million in its accounts.
In mid-March, Indian authorities ordered two of ByteDance India’s bank accounts in Citibank and HSBC to be blocked because of alleged evasion of certain taxes in online advertising dealings between the ByteDance unit in India and its parent entity in Singapore, TikTok Pte Ltd, Reuters reported, citing two sources.
ByteDance has hired 1,300 employees in India, most of whom service its overseas operations. In January, ByteDance started cut its Indian workforce to mitigate effect of Tiktok being banned in the country, which started last year following a border dispute between Chinese and Indian troops.
SHARE
Recommend
About Joyk
Aggregate valuable and interesting links.
Joyk means Joy of geeK