Frustrated China says India is harming itself after BYD not getting any chance in Indian market
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Global Times Desperation
The Global Times article states that media reports in India state that Chinese car maker BYD is facing an Indian tax probe. But such reports do not make any difference. According to the newspaper, in view of the action taken by India on Chinese companies in recent years, it has become necessary to remind the policy makers of India that imposing too much tax is not a very good thing.
According to the Global Times, higher taxes are not the way to fairness. Its ultimate victim will be the Indian economy. Citing a report by news agency Reuters, the Global Times said that BYD has been accused in India of paying too little tax on imported parts for cars it assembles and sells in the country.
Blamed India’s tax system
The newspaper has blamed India’s tax system for the whole situation. He says that the Chinese government has always asked Chinese industries to strictly follow the laws and regulations while granting permission to operate overseas. But in recent years, India has started investigating many Chinese companies by accusing them of tax evasion. According to the newspaper, this situation tells about the complex tax system of India. According to Global Times, India’s tax system is very difficult and its rules are even more complex than that.
American companies the reason for disappointment!
At one place in the newspaper, American companies have been talked about getting permission to operate in India. This shows how disappointed China is with India’s decision. The newspaper wrote, “India is enthusiastically trying to get Apple and Tesla and many more American companies to invest in the country.” But if someday there is a conflict of interest between India and these companies, will these companies fall prey to India’s difficult tax system? Now this article of Global Times has been criticized by the experts.
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