Apple supplier Foxconn subjected to tax inspections by Chinese authorities

Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities, state media reported yesterday.

Foxconn, a Taiwanese -headquartered company officially registered as Hon Hai Precision Industry Co., Ltd, had its offices in Guangdong and Jiangsu provinces searched by tax officials, according to a report in the Chinese state-run Global Times newspaper.

The Ministry of Natural Resources also inspected Foxconn offices in Henan and Hubei provinces, where the company has major factories. Foxconn employs hundreds of thousands of workers across China.

The report did not provide more details about the searches, including when they occurred or what was found.

However, the report quotes an expert who said that “while Taiwan-funded enterprises, including Foxconn, are sharing in dividends from development and making remarkable progress in the mainland, they should also assume corresponding social responsibilities and play a positive role in promoting the peaceful development of cross-strait relations.”

Tensions have been high between China and Taiwan in recent years.

The tensions have occasionally spilled over into the economic realm. In recent years, China has banned pineapples, grouper fish and other agricultural products from Taiwan for import. HUIZHONG WU, BANGKOK, MDT/AP