Too many of China’s largest enterprises are getting away with not fulfilling their tax obligations, often as a result of local government pressure, the country’s national audit office has revealed in a report.
In a four-month investigation of 788 companies, selected at random in 17 provinces and cities, the China National Audit Office found 13.39 billion yuan ($1.5 billion) in unpaid or underpaid tax in 2002, and 11.89 billion yuan in 2003, Dow Jones Newswires reported.
According to the audit office, local governments were often guilty of putting their own priorities ahead of those of central government, and had allowed several of China’s highest profile firms to avoid meeting their full tax requirement.
The report named Kunming Iron & Steel Group and China National Petroleum as two of the firms that had underpaid tax in 2002 and 2003. It is unclear whether these firms will face any penalties.
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