Chinese property developers owe 3.8 trillion yen in taxesChinese property developers owe 3.8 trillion yuan 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
Copyright is owned by Asia Outlook and/or Outlook Publishing. All rights reserved.