corruption efforts and tax collection

On the other hand, this system also impacts China’s anti-corruption efforts and tax collection. Clients of underground banks often possess “hidden wealth” and have intentions to evade taxes and bypass regulatory oversight. In recent years, China has intensified its crackdown on corruption, and in this context, underground banks have undoubtedly become a “safe channel” for evading scrutiny. Since embezzled funds are difficult to transfer abroad through official channels, underground banks offer an anonymous, untraceable route, allowing such money to be “legitimized” and land safely overseas. Additionally, some unscrupulous businesspeople use underground banks to transfer profits abroad สล็อตเว็บตรง