Online Forex broker
China is on the verge of punishing companies if they are caught reporting fake trade data, as the customs administration informed on Tuesday, as it released details on enforcement of a credit system for foreign trade companies.
Companies found discredited might be subject to more stringent inspections when applying for government tax rebates. They might also face an impact on their export or import quotas, while company representatives might be restricted from traveling abroad.
Measures announced by the customs administration as well as 33 government departments will punish firms for various infractions including tax avoidance, smuggling goods, fake company registration information, not to mention fake trade data, as customs bureau vice minister Li Guo told.
Experts tell that Chinese companies have utilized fake trade invoices just to move money offshore and dodge China's strict capital controls.
The Chinese authorities have tightened oversight of cross border capital flows for the last time as accelerating outflows greatly contributed to a weakening Yuan, which lost 6.5% against the greenback last year.
In October, the United Kingdom recorded a greater budget deficit than anticipated, as follows from first borrowing figures, since finance minister Philip Hammond pledged an end to austerity was over there…
Find out about the most important market movers from today's digest!
In November, UK factory orders managed to recover, although previously in October they sagged steeply…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
