Infosys to pay $ 8 million to settle tax fraud case

The country’s IT giant Infosys has agreed to pay $ 800,000 (about Rs 5.6 crore) to settle the charges of tax fraud and misclassification of foreign employees. Officials gave this information on Tuesday. California Attorney General Javier Becerra said Infosys would pay eight million dollars to settle the charges against him.

B-1 visa instead of H-1B visa

The allegations said that between 2006 and 2017, around 500 employees of the company were working in the state on B-1 visas instead of H-1B visas. This misclassification led Infosys to avoid paying California payroll taxes. This includes unemployment insurance, disability insurance and employment training taxes.

Infosys denied

The official statement states that in an H-1B visa, the employer is required to pay the current local salary to the employees. Becerra said, “Infosys brought employees on wrong visas to pay them less and avoid taxes.” However, Infosys denied the allegations, saying it had done nothing wrong.

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On Wednesday, the company reported to the stock market that it had reached an agreement with the California Attorney General. Infosys said that it has reached a settlement to avoid time, expense and lengthy litigation on allegations that are more than 13 years old.

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The company said that the deal would rule out the case. Infosys said it follows strong policies and procedures to ensure compliance with all regulations and legislation.

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