$2,800

Business

Foxconn Slapped with $2,800 Fine in China’s Probe

Chinese tax authorities slapped a 20,000 yuan ($2,800) fine on a Foxconn subsidiary for inflating expenses. The unit in Wuhan got dinged for sketchy accounting of R&D costs in 2021 and 2022. China’s broadening its probe into the iPhone maker’s operations, checking tax matters in Guangdong and Jiangsu, and land use in Hubei and Henan, Blomberg reported Notably, Foxconn’s founder,…