425 tax offenders blacklisted

BEIJING, April 3 (Xinhua) — The State Administration of Taxation (SAT) has blacklisted 425 companies for tax offences, it announced on Friday, as the government aims to get tough on tax offenders.

The offences took place between the start of 2013 and the end of 2014 and involved 553 corporate leaders and heads of business finance departments, the administration said in a statement on its website.

Of these cases, 270 involved tax evasion and 102 Value-Added Tax (VAT) invoice fraud.

According to a memorandum of understanding signed in December 2014 by 21 Chinese government agencies including the SAT, Ministry of Finance and National Development and Reform Commission, the top economic planner, tax offenders will face harsh punishments including prohibition from government procurement, being barred from outbound travel, and restrictions on getting bank loans.

The administration vowed to share the information on the blacklisted companies with other government agencies.