Top 500 American company ‘M Corporation’ owes China $137 million after tax evasion

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Top 500 American company ‘M Corporation’ owes China $137 million after tax evasion

November 26 2014
Chinese money (RMB) in a pocket

On November 23 China’s Xinhua News, a state-run media company, ran a story on what it calls the “first major Chinese anti-avoidance case”. An American-headquartered corporation has admitted guilt for evading Chinese taxes and will pay the Chinese authorities 840 million yuan ($137 million).

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