- Guizhou Lideqing Financial Co., Ltd. was found to have introduced false VAT invoices, causing its client companies to underpay taxes.
- In 2020, the company facilitated the issuance of 91 false VAT invoices totaling 9.374 million yuan, resulting in 1.1004 million yuan in underpaid taxes.
- The company was fined 550,200 yuan and designated as a dishonest tax service provider; responsible individuals faced further penalties.
- The actual controller of a related company, Wang Ying, was sentenced to 3.5 years in prison, had illegal gains confiscated, and was fined.
- Authorities continue to investigate other involved companies and emphasize strict compliance and enforcement in the tax service industry.
Source: chinatax.gov.cn
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "China"
- Fujian Tax Bureau Announcement on Land Value-Added Tax Collection and Administration Matters
- Hong Kong POS and Receipt Requirements Overview
- Hong Kong Fiscal Requirements Overview
- China’s VAT Reform Pushes Multinationals Toward Real-Time Compliance
- China VAT Reform Accelerates Real-Time Global Compliance Shift
