Date
26 September 2017

China Vanke paying VAT for land acquisitions, paper says

China Vanke Co. Ltd. (000002.CN) said Tuesday it has settled the payment of its land value-added tax, taking exception to media reports that many developers owe the government large sums of tax payments, the Securities Times reported Tuesday. The company cited its practice of making pre-payment of taxes to local authorities during property sales. At the end of 2012, China Vanke has budgeted 4.44 billion yuan (US$727.70 million) for the payment of value-added tax, compared with its value-added tax bill of 1.41 billion yuan, the report said.

- Contact HKEJ at [email protected]

EL/AC/CG

 

EJI Weekly Newsletter

Please click here to unsubscribe