Chongqing Road and Bridge: Received Tax Matter Notification Letter

Chongqing Road and Bridge announced that it recently received a "Tax Matter Notification" from the Chongqing Yuzhong District Tax Bureau of the State Administration of Taxation. The main content is that for the 2020 "Changshou Lake Tourism Expressway Repurchase Contract," a repurchase amount of 472 million yuan requires the payment of value-added tax of 26.7223 million yuan and late fees, urban maintenance and construction tax of 1.8706 million yuan and late fees, education fee surcharge of 801,700 yuan, and local education fee surcharge of 534,400 yuan. At the same time, the proportion of encouraged income in the 2020 Western Development income did not meet the standard, requiring the payment of corporate income tax of 10.9785 million yuan and late fees. The company attaches great importance to this matter and will actively communicate with the tax authorities to properly handle this issue