India-TikTok war escalates: Coins confiscated

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The war between India and TikTok is growing. The practice, which was banned in the Asian country in recent months, now faces charges of tax evasion. India seized the accounts of ByteDance, the parent company of TikTok, in two different banks. The company was banned from withdrawing money from these accounts and making any transactions. ByteDance took the case to court.

India and TikTok took court

According to Reuters, India seized the Chinese social media giant’s accounts at HSBC and Citibank. TikTok’s violation of the tax policies in the country is shown as the reason for this situation. In India, an additional “Equalization Tax” of 6 to 12 percent has been imposed for non-local organizations since 2016. It is claimed that the company did not pay this tax. It is a matter of curiosity how the incident taken to the court will turn out.

ByteDance officials made a statement on the subject. Stating that all business has stopped due to the blockage of their accounts, the company claimed that their free trade rights were violated. The social media giant also added that various payments such as employee salaries will also be affected.

The cause of the tension is political

With millions of users in the country, the main problem of the application is not taxes. The border tension between India and China has caused problems between the two countries. Unfortunately, this also affects TikTok and its roof company ByteDance. However, TikTok isn’t the only app that has problems. Many apps, including WeChat, known for its proximity to the Chinese government, experienced similar problems in the past month.

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