Bank of China Disguised 11 Private Equity Funds as Public Funds, Evaded 2.367 Billion Yuan in Taxes: Audit

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Bank of China Evaded 2.367 Billion Yuan in Taxes by Disguising Private Funds as Public Funds

Audit report reveals Bank of China disguised 11 private equity funds as public funds through employee 'head-count padding', evading 2.367 billion yuan in taxes.