China's Tax Authorities Target Closed Small Businesses
Reports of reopened tax registrations and audits of old accounts are raising concerns among those who already shut down their businesses.
TL;DR
- Tax authorities in China are intensifying efforts to collect taxes.
- Tax registrations are being restored for businesses that have already shut down.
- Financial records of closed businesses are being reviewed.
- Tax inspections are increasingly extending to individual businesses.
- A business in Jiangxi Province had its deregistered status reversed and was subject to inspection for inaccurate income declarations.