China central tv accuses developer of not paying taxes

China Central TV has accused developers of not paying land taxes.

The country's state broadcaster has alleged that Vanke, China's biggest listed developer, has not paid land tax, along with 44 other real estate companies, reports the Financial Times. The claims have been criticised by many in the industry.

“This is a misunderstanding and misreading of tax policies and the way taxes are levied,” the state administration of taxation told the newspaper.

This is the second time in a month that such accusations have been raised. Developers have denied the allegations.