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China's trade data posted overnight showed scant evidence of the Sino-US trade war with exports steady and imports on the rise. It is likely too early for the US tariffs to skew the data much yet, however, and another drop in Chinese equities shows that the situation is far from resolved.
Editor’s Picks 25 November 2014 at 3:00 GMT

Beijing snares multinational for tax evasion, more to come

South China Morning Post
Beijing plans to step up its campaign of catching large corporate tax evaders after it caught out a US multinational, which has agreed agrees to pay 840 million yuan in taxes and interest. The case highlights the multinational practice of transferring profits through other countries or Hong Kong, to avoid tax. China's state news agency did not name the company involved, but said that the global company is counted among the world's top 500 firms. Hong Kong authorities are expected to co-operate in the tax crackdown. The territory is a convenient gateway for cross-border tax evasion, because many multinationals have factories on the mainland and offices in Hong Kong.
Read full article at South China Morning Post

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