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China records US$604.59m back taxes
(Xinhua)
Updated: 2005-06-12 11:27
More than 45,000 taxpayers in China have been found in default on a combined
tax payment of 5 billion yuan, about US$604.59 million , between January and
April.
About 1.7 billion yuan in back taxes have been paid since the State
Administration of Taxation (SAT) started making public announcements about
defaulters on January 1.
The announcement, the first of its kind in China, was made in line with an
official method on the management of back taxes, which entitled SAT and its
branch offices to regularly announce information on overdue taxes through public
media such as radio, television, newspaper, magazines and Internet.
Although nearly 2,000 defaulters have paid back their overdue taxes in full,
sources with the SAT said that cleaning up back taxes was still an arduous task
as some taxpayers were simply insolvent while some have even run away.
To prevent the occurrence of back taxes, Chinese taxation authorities have
decided to strengthen the evaluation of taxpayers' financial status and make
better use of compulsive measures.
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