OrbitaxChina Announces 2014 Tax Audit Targets
|Approved Changes|China
China's State Administration of Taxation has announced the main targets for tax audit in 2014, which include the following:
- Real estate developers
- Construction companies
- Exporters that claim tax exemptions and refunds
- Companies who transfer equity interests
The above business types will be subject to mandatory audit. Additional business types that will likely be targeted include highly polluting and energy consuming companies, local commercial banks, and high income individuals.