Chinese tax agency investigating high-profile developer
BEIJING (AP) — The Chinese government says it is investigating possible tax evasion by a subsidiary of high-profile real estate developer SOHO China Ltd., the target of an aborted takeover attempt this year by Blackstone Group. The announcement comes amid anti-monopoly and other enforcement actions against internet and other private companies as the ruling Communist Party tightens control over the economy. The Beijing Municipal Taxation Bureau says the investigation was prompted by a report of possible tax evasion by Beijing Jianhua Land Co. It gave no details.
