BBC surveyed for diversion of profits, tax manipulation: IT-dept sources

The cash-rich TV broadcaster BBC, that declared a record income of of £5.33 billion ($6.4 billion) for the financial year -2021-22 was searched for alleged diversion of profits by India’s tax agencies.

BBC established under the royal charter in January 1927 with the mandate of “reflecting the United Kingdom, its culture and values to the world” entered pre-independent India as a mouthpiece of the UK government and the East India Company has consistently flouted transfer pricing rules and have deliberately diverted significant amount of the profits, said sources in the IT department.

The Income Tax Authorities on Tuesday conducted a survey on the British Broadcasting Corporation’s premises in Delhi, in view of its deliberate non-compliance with the Transfer Pricing Rules and its vast diversion of profits.

“The surveys were conducted for non-compliance under transfer pricing rules, persistent and deliberate violation of transfer pricing norms; and deliberately diverting significant amounts of profits,” said sources.

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