The reduction is based, in part, on the audit of 107 foreign-invested companies for tax years 2008 to 2010.
The tax authorities have now indicated they will audit 870 foreign-invested companies that report consecutive tax losses for the 2008 to 2010 tax years, and 100% of tax refund applications by those loss-making companies, and companies that report less than 2% of profit-over-revenue.
