Clampdown on tax evasion in China leads to arrests of mineral suppliers

• Autores: Yoke Wong
• Localización: Industrial Minerals, ISSN 0019-8544, Nº. 596, 2017 (Ejemplar dedicado a: Septiembre)
• Idioma: inglés
• Texto completo no disponible (Saber más ...)
• Resumen

  • Several refractory minerals suppliers alleged to have committed tax evasion have reportedly been arrested in China, with many wary of Beijing's clampdown on the practice warning that there could be more prosecutions.

    Several refractory minerals suppliers accused of tax evasion were arrested by Chinese custom authorities in August, with the clampdown expected to spread, sources claimed.

    "The Chinese customs officials have become very active recently: they are arresting people," one Europe-based supplier said.

    Around 30 people were arrested and up to seven companies were involved in the China Customs investigation on tax evasion, one refractory mineral producer told IM.

    The owner of one major mineral supplier was arrested on allegations of tax evasion, with the company's assets and bank accounts frozen by the Chinese authority, three market sources told IM.