Foxconn has been hit with a 20,000 yuan ($2,800) fine from Chinese authorities who said the Apple iPhone assembler overstated its expenses.
Venus Feng and Diana Li for Bloomberg News:
Chinese tax authorities handed out a 20,000 yuan ($2,800) fine to a Foxconn Technology Group subsidiary for overstating expenses while Beijing is pursuing a broader probe into the iPhone maker’s operations.
The Foxconn Industrial Internet Co. unit in the central Chinese city of Wuhan was fined by a local tax authority over its accounting of research and development expenses in 2021 and 2022, according to the state-run National Center for Public Credit Information.
MacDailyNews Take: We’ll see what happens with the broader probe, but this first fine should be manageable for Foxconn. 😏
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Support MacDailyNews at no extra cost to you by using this link to shop at Amazon.
