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May 14, 2010

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Invoices faked in shop

BAOSHAN District police have cracked down on the city's first large fake invoice printing workshop, an operation that mainly produced fake invoices for local parking lots, which could use them to avoid taxes.

The police caught four suspects while they were printing the invoices at their workshop on Dakang Road and seized 430,000 sets of uncompleted bogus invoices during the action on April 13.

All the printing machines and computers of the workshop have been confiscated.

The police said they did not know how many sets flowed into the markets, but they managed to stop the latest deal involving 100,000 sets.

According to a police officer, Fu Jun, the workshop was run by a privately owned printing company, registered as Shanghai Caiseng Printing Co, on 635 Dakang Road.

One of the suspects was the boss of the company and two were his employees. They started the business by printing the invoices and selling to a dealer, Tao Lianqing.

Tao purchased the invoices at a low price of 1 yuan (15 US cents) for 100 sets and he sold them to the parking lots for 1.5 to 1.8 yuan for a profit of up to 80 percent. By giving the fakes to customers, the parking lots could keep transactions off the books and dodge taxes.

By April 13, the workshop had sold 100,000 sets to Tao for 1,000 yuan.

"Although the printing workshop didn't actually profit a lot from the illegal business, still the fake invoices are doing great harm to the tax system," said Fu.

He said the fake 5-yuan invoices were rare, as one could certainly earn much more by making invoices for commercial uses. But the low face value made the fakes much easier to make and difficult for police to detect.


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