Last year, the soy milk seller made a net profit of only 209 million yuan ($29 million).
And it’s still unsure how much it owes in fines, which could be potentially higher than the actual $11.7 million tax bill.
Including fines, the company needed to pay a total amount of 480 million yuan ($66 million).
The amounts paid vary from 8 million yuan ($1.1 million) to 310 million yuan ($43 million).
It said in January that the Shenzhen government had asked for payment of 19.8 million yuan ($2.7 million) in back taxes for 2017 and 20.2 million yuan ($2.8 million) in fines.
Persons:
they’ve, ”, Craig Singleton, Frank Tian Xie, ” Singleton, it’s, ” Bohui, “
Organizations:
Hong Kong CNN — Authorities, Food & Beverage, Foundation for Defense of Democracies, Administration of Taxation, “ Police, Taxation, Centers ”, University of South, University of South Carolina Aiken, Ningbo Bohui Chemical Technology, Healthcare, ChinaLin Securities, Yixintang Pharmaceutical Group
Locations:
China, Hong Kong, Zhijiang, Hubei, Yichun, Jiangxi, University of South Carolina, “, ” Beijing, Ningbo, Qinghai, Golmud, Chongqing, Shanghai, Shenzhen