China Widens ‘Tax-Evasion’ Net Amid Microsoft Case
This article is for subscribers only.
China is expanding efforts to rein in what authorities say is tax evasion by foreign companies, with Microsoft Corp. being required to pay more than $150 million, according to a person familiar with the matter.
The payments -- including 840 million yuan ($137 million) in back taxes, interest and more than 100 million yuan in additional annual disbursements going forward -- were detailed in a Nov. 23 report by the state-run Xinhua News Agency, which stopped short of naming the company involved. That company is Microsoft, according to the person, who isn’t authorized to speak publicly and asked not to be identified.