Date
24 October 2017

Tax agencies blamed for Vanke tax ‘delay’, paper says

Failures by tax authorities were the main reason China’s biggest real estate developer has delayed paying land appreciation tax (LAT), the Global Times reported Wednesday, citing analysts. The claim came after China Central Television aired a report Monday alleging that China Vanke Co failed to pay more than 4 billion yuan (US$660 million) in the tax by the end of 2012. Beijing lawyer Li Jinsong said double LAT settlement conditions left loopholes for real estate developers, and the local tax departments as well as the State Administration of Taxation failed to fulfill their duties.

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