Reported about 1 month ago
British insurer Aviva announced it is actively cooperating with local authorities amid allegations of tax evasion practices in its India unit. Reports reveal that the Indian tax agency has identified violations regarding commission limits to sales agents, involving fake invoices and illicit cash payments from 2017 to 2023. Aviva's India business is facing potential penalties of up to $11 million related to these issues, described by the company as part of an industry-wide concern. The insurer asserts that it is addressing the situation and has yet to incur any adverse ruling or penalty.
Source: YAHOO