Reuters reported exclusively that Indian authorities have blocked at least two of ByteDance’s bank accounts for alleged tax evasion, prompting it to ask a court to quash the directive that it fears will hit its operations. In a court filing, which is likely to be heard this week at a High Court in the financial capital Mumbai, ByteDance India has said that although it had only about $10 million in its accounts, the blocking decision was an abuse of the legal process and would make it hard for it to pay salaries and taxes.
Business & Finance
Reuters exclusively reports India blocks bank accounts of China’s ByteDance
30 March 2021, 2:14 pm 1 minute
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story