iPhone supplier Foxconn facing tax audit, land use investigation at key subsidiaries for suspected rule violations
Nvidia, Foxconn to Develop New Class of Data Centers Focused on AI As per the report, China's natural resources department has initiated on-site investigations into the land usage of Foxconn enterprises located in Henan province, Hubei province, and other areas. The developments were disclosed in an exclusive report by Chinese media major, the Global Times.
There was however no further details into the investigations or their timing, it added. Also Read: Apple's Tim Cook makes surprise China visit as iPhone sales slump Foxconn did not comment outside of business hours, as per the report.
The tax audits and land use investigations are standard procedures applied to enterprises suspected of violating rules and regulations, Zhang Wensheng, the deputy dean of the Taiwan Research Institute of Xiamen Universitytold the Global Times. Zhang emphasized that it is essential for Foxconn's subsidiaries to cooperate actively with these audits and investigations.
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