Lawyer Li Jinsong through conducting a statistical analysis of the annual reports by 29 listed enterprises in respect of the land value-added tax payable concluded that the real estate companies hold up 64 billion yuan tax payable to the relevant tax authorities. The SOHO China accounts for 6.4 billion, Agile has 8.3 billion yuan, and Huayuan Real Estate has 500 million yuan.
Allegedly, Li Jinsong also wrote to relevant local tax departments of these real estate companies requesting to strengthen the land value-added tax collection according to the requirements of the State Council’s five new countries control policies (国务院新国五条) over the real estate market.
Regarding Li Jinsong’s questioning, the reporter called two major real estate companies, Vanke and SOHO China, but received no response.
Source: 北京晚报(Beijing Evening Post)