China Firms Nervous As Beijing Tax Chiefs Turn To AI: SCMP


Beijing’s vow to clamp down on tax evasion in 2022 and tighten scrutiny is worrying small firms and the wealthy as the authorities gear up to introduce a powerful new tax surveillance system that some have likened to a “giant X-ray machine.”

Capable of hoovering up huge amounts of personal and financial data, the Golden Tax IV system will connect company data, as well information from owners, executives, banks and various market regulators for tax authorities to scrutinise. Full story: South China Morning Post


Also on AF:

Evergrande Shares Rise After Winning Bond Payments Delay

Asia Markets Fall Back After Fed Chiefs Fuel Rate Hike Fears


Sean O'Meara

Sean O'Meara is an Editor at Asia Financial. He has been a newspaper man for more than 30 years, working at local, regional and national titles in the UK as a writer, sub-editor, page designer and print editor. A football, cricket and rugby fan, he has a particular interest in sports finance.

Recent Posts

VW Vows to Stay Ahead as China EV Revolution Gathers Pace

Volkswagen executive Stefan Mecha said the firm is committed to investing $16.26 billion in the…

15 hours ago

China Developer Sunac Posts $2 Billion 2022 Core Loss

The real estate firm was among many Chinese developers that defaulted last year as the…

17 hours ago

China’s Huawei Claims ‘Crisis is Over’ After Revenue Rise

The firm said it was now "out of crisis mode” following years of painful US…

18 hours ago

China to Check US Chip-Maker Micron Products in Security Review

The Cyberspace Administration of China said the move was aimed at protecting supply chains and…

2 days ago

Elon Musk Seen Hoping to Meet China PM on Next Visit

Musk met Li Qiang in 2019 when he was party secretary in Shanghai. Sources say…

2 days ago

Russia Wants All India Trade in Rupee-Ruble – Firstpost

Increasing oil deals between the two countries have already begun to corrode the US dollar’s…

2 days ago