Aviva's India arm hit with $7.5 million fine for fake invoice scheme, order shows

Tax Penalties for Aviva: Indian authorities have ordered Aviva's local unit to pay $7.5 million in back taxes and penalties for creating fake invoices to pay illegal commissions and incorrectly claiming tax credits, following an investigation that revealed significant tax evasion practices.

Aviva's Response and Business Impact: Aviva India plans to contest the order, asserting that the allegations are unfounded and that the vendors involved were legitimate; however, this tax demand poses a challenge for its operations, especially given the competitive landscape of India's insurance market.