800m yuan tax fraud bust
Print Edition
Shanghai police cracked China’s largest export tax fraud in recent years, involving some 800 million yuan (US$131.1m), officials said yesterday.
This success is part of efforts to regulate taxation.
From 2009, the 17-strong gang took advantage of export tax rebate policies, reporting fake export and import prices to customs, the Shanghai Public Security Bureau’s economic crimes unit said.
A Shanghai-based textile company exported goods at a high price to a company in Hong Kong, then a company in Guangdong Province imported the same goods at a lower price.
During the process, the gang bought value-added tax invoices from other companies to apply for tax rebates, the police said.
“The criminals cheated on tax rebates by repeatedly exporting and importing the same batch of goods,” said Xu Xiang, a chief inspector with the unit.
Shanghai and Guangdong police teamed up to bust the fraud in January, after five months of investigations.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
