Information appeared on the net that China’s largest trading platform Alibaba and some others were fined several hundred thousand dollars. This happened due to failure to report and disclose tax information.
Private equity firm Tencent was fined nearly $900,000, while Alibaba was fined just $350,000.
In total, up to 5 cases of concealment of transactions appear in the alibaba case and up to 12 are mentioned with Tencent. The total number of transactions with companies seen in violations is 28 units. The size of the fines for these technology companies is not so large as to cause financial problems, but it can significantly affect reputation and cooperation with other companies.
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Source: IXBT
