China: China's Taxman Is Going After Fake Claims with Tencent Blockchain Invoices

SCMP

For unscrupulous businesses attempting to take advantage of tax loopholes in China, the sellers of fake receipts on the mainland usually know the way.  One such seller, who calls herself Mrs Wang, claims she can provide a faked official invoice – the legal proof of payment called fapiao in Chinese – in 24 hours and guarantee that it will be verified by the country’s tax system. She charges two per cent of the fake receipt’s face value after it is verified.

image
via flickr

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