From the 18th to the 20th, within just three days, three publicly traded companies—Yubang New Materials, Chenfeng Technology, and Samsung New Materials—successively issued announcements regarding tax-related matters.

Yubang New Materials must pay back corporate income tax and late payment penalties totaling approximately 42.5 million yuan for the years 2022 through 2024, accounting for over 45% of its net profit attributable to shareholders for the period; Chenfeng Technology must pay back value-added tax and surcharges totaling approximately 21.8 million yuan; A subsidiary of Samsung New Materials must pay approximately 15.6 million yuan in back taxes.

The three companies collectively paid nearly 80 million yuan in back taxes—and this is just a snapshot of this week’s wave of back-tax payments in the A-share market.

What is even more noteworthy is that the announcements from all three companies explicitly state that “no administrative penalties were imposed.” In other words, they all voluntarily conducted self-inspections and made back payments, rather than being penalized after being identified during an audit.

This Issue's Highlights: Tax Case Involving the Transfer of Equity in Zhang Ziyi's Partner Company Comes to Light; State Taxation Administration Cracks Down on ”Buy Low, Sell High” Arbitrage Through Assessed Taxation A […]

On August 18, the “Tapping into Africa’s Blue Ocean: Takealot South Africa Practical Workshop,” co-hosted by Qicaiying Group and the Shenzhen Maker Association, was held in Shenzhen.

Today, compliance is no longer a matter of “whether or not to do it,” but rather a matter of identifying risks, choosing the right model, calculating tax liabilities, and finding an implementation plan that truly suits the company.

  In This Issue: The State Taxation Administration Issues New Regulations on Income Tax Administration for Corporate Restructuring, Clarifying the Scope of Special Tax Treatment; New Consumption Tax Policy for Batteries Takes Effect; Universal Exemptions […]