Chinese property developers owe 3.8 trillion yen in taxes

Editorial Team
Editorial Team
Chinese property developers owe 3.8 trillion yen in taxes

Chinese property developers owe 3.8 trillion yen in unpaid taxes according to a report by state broadcaster China Central Television (CCTV).

In a programme which aired on Sunday the broadcaster said property firms should have paid more than 4.6 trillion yuan in land taxes from 2005 to 2012 but authorities collected just 800 billion yuan.

The CCTV report did not give a total for the number of firms alleged to have failed to pay taxes.

It did however say that they included at 45 listed Chinese property developers.

Image: © Getty

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The Editorial team at APAC Outlook Magazine is a team of professional in-house editors led by Jack Salter, Head of Editorial at Outlook Publishing.