Eratat Lifestyle

greenrookie
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10 years 5 months ago - 10 years 5 months ago #17319 by greenrookie

Replied by greenrookie on topic Eratat Lifestyle

UB40 wrote: Greenrookie,

tax paid by lilanz
www.jjjjb.com.cn/html/2013-03/25/content_371993.htm
click on pdf to down load

for eratat on tax paid, I have only part of the jigsaw puzzle.

Hey UB40,

Thank you for your link,

Can you share part of your jigsaw puzzle on Eratat tax??

for year 2012, Eratat pay 49 million tax, and of it subsidaries, only 福建海明威鞋业有限公司is not dormant, it should be captured in your list, since any company that pays 10 million tax is captured in the list...

From the propectus, Haimingwei was the major operating Subsidiary involved in the production and sales activities of our Group during the Period
under Review.

Granted its shares of company revenue and profits might had dropped, but just 30% of the income tax paid from eratat from haimingwei shuould be captured in jinjiang tax bureau

Seriously I would send this document to both eratat and SGX for answers if I am an investor.

Last edit: 10 years 5 months ago by greenrookie.

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Fundamentalist
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10 years 5 months ago #17356 by Fundamentalist

Replied by Fundamentalist on topic Eratat Lifestyle

Thanks Greenrookie for digging out this piece of information from jinjiang tax bureau.

Footwear revenue in FY2012 is 325.8mil RMB
Gross profit margin is 15.4%
So gross profit is about 50.17mil RMB

Data from en.wikipedia.org/wiki/List_of_countries_by_tax_rates
China Corporate Tax Rate is 25%

So 25% of 50.17 is about 12.5mil RMB

The calculation based on available data shows that tax should be greater than 10mil RMB, yet not captured in the report.

Something is fishy. Either the China govt tax bureau, or.........

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chinsoonyuen
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10 years 5 months ago #17357 by chinsoonyuen

Replied by chinsoonyuen on topic Eratat Lifestyle

i heard some chinese co maintain 2 sets of acc? hv u heard before?

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Fundamentalist
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10 years 5 months ago #17358 by Fundamentalist

Replied by Fundamentalist on topic Eratat Lifestyle

Some... but they won't declare themselves as one of the most transparent companies around right? :cheer:

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chinsoonyuen
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10 years 5 months ago #17359 by chinsoonyuen

Replied by chinsoonyuen on topic Eratat Lifestyle

since there are 2, which one are u looking at?

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greenrookie
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10 years 5 months ago #17364 by greenrookie

Replied by greenrookie on topic Eratat Lifestyle

Fundementalist,

There is no need to give a 25% proportion to the company, the company might have a "shoes" name on it, but it is dealing with the purchases, design and sales of shoes and accessories.

From 2012 AR, haimingwei is no longer the only subsidary active, they have quanganghongli too. All other companies have no income tax to pay. Problem is, no matter how you split the tax payable between 2, either one should appear in the list. But apparently, it doesn't.

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