Suspects held for ‘1b yuan fake invoices’

Updated 2017-03-30 09:31:15 Shanghai Daily

More than 10 suspects were detained yesterday morning in Shanghai's largest value-added tax fraud case. More than 1 billion yuan (0 million) of fake VAT invoices were issued, police said.

The gang registered more than 10 “business consultation” and “company service” firms to provide the illegal service, police added, and profited about 10 million yuan as a result, causing a 200 million yuan tax loss to the government from January 2013 until now.

The suspects are alleged to have issued fake VAT invoices with an average kickback of 3 percent of the face value of the invoices to companies that sought to evade tax.

In a raid of six locations yesterday, police seized a number of invoice printers and seals.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58January 22 2018 00:23:37

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16January 22 2018 00:23:37

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18January 22 2018 00:23:37

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords