‘A giant X-ray machine’: Chinese firms brace for new tax surveillance system

Anxiety is spreading across China’s business community as authorities gear up to introduce a powerful new tax surveillance system that some have likened to a “giant X-ray machine”, capable of hoovering up huge amounts of personal and financial data.In a bid to tighten supervision, China is proceeding with the construction of the Golden Tax IV system, under which company data, as well information from owners, executives, banks and various market regulators will all be connected and accessible…

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