Chongqing Hit Developers with Large Fines in 2011
A special inspection into tax payments in the real estate sector launched by the Chongqing government in 2011 collected 4.5 billion yuan in fines, recent data from the city's Finance Bureau shows.
A source closed to the bureau said that to alleviate fiscal pressure, several city government agencies, including the tax department, land bureau and the industry and commerce administration, jointly launched a special city-wide inquiry that targeted property companies.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter