Chinese home appliance retailers Gome, Sunning and Dazhong are currently being investigated for tax evasion.
The State Administration for Taxation (SAT) is currently investigating
invoice stubbs, for the period of January 2006 up until November 2007,
of value added tax (VAT) paid by the companies which they believe to be
decreased to evade taxes. A circular released by SAT which contained
information about VAT paid by the companies in March this year was
retracted as it was believed to be too sensitive. It is unknown how
much tax they have evaded but according to regulations, large retail
companies such as Gome and Suning should pay VAT at a 17 per cent rate.
Companies involved are said to be Xingtai Santai Industrial Co., Ltd;
Gome Home Appliance Mall; Hebei Gome Electrical Company; Xingtai
Xinhuiyuan Shopping Mall; Beijng Dazhong Electrical Appliance Company,
Xingtai Branch; and Hebei Suning Electrical Appliance Chain Company,
Xingtai Branch.
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