Chinese Authorities Conduct Tax Inspections on Apple Supplier Foxconn

Foxconn, a Fortune 500 company known for manufacturing Apple iPhones, has recently been subjected to searches by Chinese tax authorities. According to local reports on Sunday, tax officials conducted searches at Foxconn’s offices in Guangdong and Jiangsu provinces. The Ministry of Natural Resources also inspected Foxconn’s offices in Henan and Hubei provinces, where the company has major factories. However, no further details were provided regarding the searches, including when they occurred or what was found.

These inspections come in the midst of high tensions between China and Taiwan. China views Taiwan as part of its own territory and regularly showcases its military might to enforce its stance. While China has banned certain agricultural products from Taiwan, it has largely refrained from targeting Taiwanese companies that operate on the mainland. Foxconn, which does the vast majority of its manufacturing in China, has stated that it will actively cooperate with the relevant authorities regarding these inspections.

Foxconn’s founder, Terry Gou, who announced in August that he would be running as a candidate in Taiwan’s presidential elections next year, resigned from his seat on the board of Foxconn. He is seen as a China-friendly candidate aligned with Taiwan’s current opposition party.