Chinese authorities have launched multiple investigations into iPhone-maker Foxconn’s tax and land use, sources told local news site Global Times. Tax authorities inspected Foxconn’s sites in…
Obama Treasury chief Jacob Lew got $14M from private equity firm after refusing to crack down on Wall Street loopholeAOC, socialists target NY’s top 5% with tax hikes — households making more than $250K would be hit: analysisTax authorities inspected Foxconn’s sites in the provinces of Guangdong and Jiangsu, and natural resources officials have conducted on-site investigations in Henan and Hubei, the anonymous sources told Global Times.
Chinese state media has suggested that the probe could be politically motivated, as Foxconn’s billionaire founder Terry Gou announced his bid to be Taiwan’s president in August. Though Global Times pointed to some who believe that the tax investigations are because of his 2024 presidential candidacy, the outlet also cited experts that called the probe “normal and legitimate.”Gou’s presidential candidacy comes as tensions are growing over Taiwan’s independence from China.
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