Chinese property developers swindle accounts

[photopress:Accounts.gif,full,alignright]The Ministry of Finance has investigated 39 real estate developers since 2005 for fixing their books to avoid taxation. A report by the China Daily said that most of these companies manipulated total profit rates of US$418 million in 2005. The actual average profit rate of these firms revealed by investigators was 26.79% compared to the 12.22% that they had claimed.
Source: Zee News