Beijing tax authority to probe SOHO China unit for suspected tax evasion (updated)

SOHO China

22/10/2021 12:48

(Adds background)
    BEIJING, Oct 22 (Reuters) - The Beijing arm of China's tax
regulator said on Friday it will  investigate Beijing Jianhua
Real Estate Co., Ltd, a unit of Chinese office developer SOHO
China Ltd  0410.HK , for suspected tax evasion. 
    The Beijing Municipal Tax Service, a unit of the State
Taxation Administration, said in a brief statement that it was
pursuing the inquiry after a report prompted it to conduct an
analysis, without giving further details. 
    SOHO China did not immediately respond to a request for
comment. 
    Shares in the company tumbled last month after Blackstone
Group Inc  BX.N  scrapped what would have been China's largest
real estate buyout.  urn:newsml:reuters.com:*:nL1N2QF04H
    SOHO China is 64% owned by the husband-and-wife founding
team of Chairman Pan Shiyi and Chief Executive Zhang Xin, who
have been scouting for buyers for its prime commercial property
assets as they looked to shift their focus to overseas markets.

 (Reporting by Albee Zhang and Brenda Goh; editing by John
Stonestreet and Mark Heinrich)