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
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