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China's First SOE Convicted of Tax Evasion
A State-owned enterprise (SOE) in northwest China's Liaoning Province Wednesday became the country's first SOE convicted of tax evasion and grift.
In its first verdict given by the Shenyang Intermediate People's Court, Shenyang Semiconductor Material Plant was convicted of tax evasion and fined 1 million yuan.
Song Guangyi, who was judicial person and director of the plant during 1995 and 1998, was convicted of tax evasion and grift, and was given a combined 13 years of imprisonment, deprived of political rights for two years and fined 70,000 yuan.
The verdict said Song ordered accountants at the plant to fabricate documents to evade 359,300 yuan in taxation. In the removal and extension project of the plant, Song also cheated government to get 1.5 million yuan illegally.
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