Taiwan based Foxconn, the world's biggest assembler of Apple iPhones, is reportedly in the crosshairs of tax authorities in China.
shares moved lower in pre-market trading Monday following reports that its key supply-chain partner, Taiwan-based Foxconn, is facing what could be a politically motivated probe into its tax affairs by officials in China.
The moves follow a series of trade and export restrictions on high-tech semiconductors and AI-related technologies put in place by President Joe Biden over the past year and could draw Apple, the world's biggest tech company, into the ever-growing dispute between Washington and Beijing.
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Apple supplier Foxconn subjected to tax inspections by Chinese authoritiesChinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities. Such a move against a major Taiwanese enterprise in China is rare. Tensions have been high between China and Taiwan in recent years.
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Apple supplier Foxconn subjected to tax inspections by Chinese authoritiesChinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities.
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Apple supplier Foxconn subjected to tax inspections by Chinese authoritiesChinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities.
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