India investigates US internet giants

India’s government is investigating whether local units of US internet giants Google and Yahoo may have violated the country’s foreign exchange laws.

Notices have been sent to the Indian units that they are being investigated for potential violations, the Wall Street Journal said.

A Google India spokeswoman said: “We have an obligation to our shareholders to set up a tax efficient structure and our present structure is compliant with the tax rules in all the countries where we operate.” – (Reuters)

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