TAIPEI: Foxconn, a major supplier of Apple's iPhones, is facing a tax probe in China, two sources close to Foxconn confirmed on Monday (Oct 23), saying they believed it was disclosed by a state-backed paper for political reasons tied to Taiwan's upcoming elections.
On Sunday, China's state-backed Global Times tabloid said some of Foxconn's key subsidiaries in China were the subject of tax audits and that China's natural resources department had conducted on-site investigations on land use by Foxconn enterprises in Henan and Hubei provinces and elsewhere.
Chinese authorities in Henan, Hubei, Guangdong and Jiangsu did not immediately respond to faxed requests from Reuters seeking comment on audits of Foxconn. "Their economy isn't doing well. It is a warning, seeing major companies like us moving to India," the source said.It could not be a coincidence that the audit was made public by a state-backed news outlet just as Foxconn founder Terry Gou bids to be Taiwan's next president in January elections, the source said.
Taiwan Premier Chen Chien-jen offered the government's help to Foxconn, while Economy Minister Wang Mei-hua said her ministry had already been in touch with the company.
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