( ) -q-22- UNDATED (Correspondent Jeremy House) “source of revenues.” Chinese authorities are chasing unpaid taxes from companies and individuals dating back decades. [CutID: <Cuts> CHINA-UNPAID-TAXES-house-q-THUam.mp3 Time: 22s Title: CHINA-UNPAID-TAXES-house-q-THUam Out-cue: source of revenues] TAG: Correspondent Jeremy House reporting. The ruling Communist Party has pledged to repair local cash woes, but it’s more easily said […]
Audio
Facing budget crunches, Chinese tax collectors descend on companies
( ) -q-22- UNDATED (Correspondent Jeremy House) “source of revenues.”
Chinese authorities are chasing unpaid taxes from companies and individuals dating back decades.
[CutID: <Cuts> CHINA-UNPAID-TAXES-house-q-THUam.mp3
Time: 22s
Title: CHINA-UNPAID-TAXES-house-q-THUam
Out-cue: source of revenues]
TAG: Correspondent Jeremy House reporting. The ruling Communist Party has pledged to repair local cash woes, but it’s more easily said than done. Experts question how thoroughly the party will follow through on its broad promises to improve the tax regime.
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VERBATIM: The move comes as the government moves to plug massive budget shortfalls and address a mounting debt crisis. More than a dozen listed Chinese companies say they were slapped with millions of dollars in back taxes in a renewed effort to fix local finances. Those finances have been wrecked by a downturn in the property market that decimated land sales, a main source of revenues.