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Foxconn CEO Accused of Tax Evasion

The suicide of an employee means that Foxconn has been in the headlines a lot this week. Today Chinapost reports that Tsang Ching-yi, a former reporter for a Chinese-language magazine, has said that owner of Hon Hai Precision Terry Gou is being investigated by the IRS.

Ching-yi wrote in an article on her blog that the Internal Revenue Services of the U.S. is investigating Gou for evading a total of NT$49.9 billion in tax. Hon Hai Precision has denied the claims, saying the story that claims Gou is required to repay the money and up to three times more as a fine is "a bunch a nonsense."

The same woman tried to blackmail Gou a few years back. Ching-yi was sent to prison for threatening to reveal information about Gou and tax evasion. The reporter was demanding Gou pay her $1 million for her silence. Tsang Ching-yi maintains that her article is based on facts and is demanding an apology from Hon Hai Precision.

  • Aoster87
    $49.9 billion? Jeez that's a bit steep.
    Reply
  • njalterio
    aoster87$49.9 billion? Jeez that's a bit steep.
    That's in NTD....not US.
    Reply
  • jerther
    hmm, I think we have an interresting story happening on here... let's stay tuned :)
    Reply
  • cekasone
    next story is going read "Ching-yi found dead after Foxconn motherboards fell on her"
    Reply
  • Aoster87
    njalterioThat's in NTD....not US.Ahh hell, didn't see the NT :/
    Reply
  • grieve
    Does Terry Gou live in the USA?

    The IRS is the US government agency... Lets see them get Terry if he isn't American.
    Reply
  • grieve
    Terry Tai-Ming Gou, sometimes written as Terry Guo, (traditional Chinese: 郭台銘; pinyin: Guō Táimíng) (born October 8, 1950) is a Taiwanese tycoon who leads Hon Hai Precision, a company that manufactures electronics on contract for other companies.

    He isn't American... IRS can't do shit.
    Reply
  • dman3k
    That's about $1.5B USD. Hmmm... I guess Steve Jobs hasn't trained his sith apprentice well enough.
    Reply
  • dman3k
    grieveHe isn't American... IRS can't do shit.Please, research this before you make asinine comments like this one. Talking with your ass does not make you intelligent.
    Reply
  • grieve
    dman3kPlease, research this before you make asinine comments like this one. Talking with your ass does not make you intelligent.
    Well...
    He is not a USA resident nor a US citizen... The company he heads up is located in Tu-Cheng, Taiwan. Why exactly would he owe the IRS (USA) anything? He certainly wouldn’t pay American taxes.

    In Taiwan it seems they have a “National Tax Administration” which is NOT called IRS… in fact there is no IRS in Taiwan.

    Here in Canada we have the Canada Revenue Agency, the equivalent to the USA’s IRS… It is not the same.

    Since I am talkin out my ass, provide me a link to the Taiwan IRS. At least back up your replies with some evidence.
    Reply