Foxconn Denies Panama Links

Foxconn has been implicated in tax evasion as part of the ‘Panama Papers’ scandal, which broke this month. It is said that the company has evaded taxes valued up to NT$741.2 billion ($22.9 billion).

Responding to the allegations, Foxconn said that it is an honest company and paid more than NT$48 billion in taxes in Taiwan last year. It also said that conducting business, including investments, overseas has always been a necessary mechanism for international trade, but the company has always reported related investments.