2023-10-22 13:41:00
Several subsidiaries of the group in China are the subject of a tax audit, the Global Times, a Chinese state daily, reported on Sunday. The sites concerned are located in Guangdong province (south) and Jiangsu (east). The newspaper added that authorities are also investigating how Foxconn uses the land of its subsidiaries in the central provinces of Hunan and Hubei.
The article does not specify what authorities are seeking to know or what offense(s) Foxconn may have committed. “Compliance with legislation is a basic principle for our group worldwide”commented Foxconn in a press release. “We will actively cooperate with [autorités] competent for the operations concerned”, the company added without further details.
The founder enters politics
The Taiwanese group Foxconn is the leading subcontractor of electronic products in the world, whose founder, Terry Gou, proposed his candidacy this summer for the presidential election in Taiwan, scheduled for January 2014. The businessman, who left the board of directors of Foxconn, is considered close to the communist power in China and multiplies the outbursts once morest the Progressive Democratic Party, in power since 2016, and fiercely attached, if not to the independence of the island, of the month to its autonomy with regard to Beijing.
Since the 1980s, Foxconn has subcontracted to consumer electronics giants and in 1999 formed a partnership with Apple to produce computers, then from 2007, iPhones.
According to the Bloomberg agency, Foxconn accounts for nearly 40% of electronic subcontracting worldwide and the group is the largest private employer in mainland China. Under pressure from its major customers, Foxconn is trying to reduce its dependence on China, but the task promises to be difficult. Last July, he abandoned a $20 billion project in India in the semiconductor field.
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