Millet responded to tax evasion reports: there is no problem of non-standard rectification.

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 Millet responded to tax evasion reports: there is no problem of non-standard rectification.


Millet said that the inspection of the Ministry of Finances announcement is the inspection of the Ministry of Finances accounting supervision in 2017, which is aimed at the quality of accounting information in 2016. There are some problems in the company, such as incorrect accounting for part of the expenses amortization, failure to declare and pay taxes for goods donated as sales acts, irregular management of reimbursement invoices, and imperfect cost management system. The above problems have been completed and approved by the Ministry of finance.

On October 30, the millet group fell more than 4%, reaching a new low since listing, breaking the HK $260 billion mark.

The following is a response to the full text of millet:

Yesterday, some Internet companies were named by the Ministry of Finance because of the existence of cross-border transfer of profits and tax evasion. Some of the reports related to millet are seriously inconsistent with the facts.

The inspection of this announcement by the Ministry of Finance is the accounting supervision and inspection of the Ministry of Finance in 2017, which is aimed at the quality of accounting information in 2016. According to the announcement made by the Ministry of Finance, there are some problems in millet, such as miscalculation of part of the expenses amortization, failure to declare and pay taxes for goods donated as sales, irregular management of reimbursement invoices, and imperfect management system of expenses. The above problems have been completed and approved by the Ministry of finance.

Part of the cost amortization accounting problems, mainly for the rent and part of the decoration expenses amortization of the start time and part of the common expenses between the group enterprises there are some deviations, the company has made relevant accounting adjustments, there is no tax evasion behavior.

The donated goods have not been regarded as sales behavior to declare and pay taxes, only some donated goods, involving about 600,000 yuan of tax. The above problems have been corrected by our company and have been declared and paid to the tax bureau.

Reimbursement invoice management is not standardized, the cost management system is not perfect, involving the amount of RMB 90,000 yuan, the Ministry of Finance is mainly from the system management points out that the company should be reimbursement audit approval authority and rules clearly in the financial system. Group follow-up has improved the relevant system. Millet Group attaches great importance to the problems raised in the announcement of accounting information quality inspection of the Ministry of Finance and has completed the rectification quickly. Since its inception, Millet Group has been committed to improving management, actively improving the development of omissions, no major deviations, and in the process of listing has been recognized by auditors. Taxation according to law is the value and code of conduct adhered to by millet group, there is no misreading of the existence of cross-border transfer of profits, tax evasion behavior. Source: NetEase science and technology report editor: Wang Fengzhi _NT2541

Millet Group attaches great importance to the problems raised in the announcement of accounting information quality inspection of the Ministry of Finance and has completed the rectification quickly. Since its inception, Millet Group has been committed to improving management, actively improving the development of omissions, no major deviations, and in the process of listing has been recognized by auditors. Taxation according to law is the value and code of conduct adhered to by millet group, there is no misreading of the existence of cross-border transfer of profits, tax evasion behavior.