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| Chinese trial over fake receipts | Chinese trial over fake receipts |
| (30 minutes later) | |
| Five men are due to appear in court in south-western China charged in connection with a multi-billion dollar fraud case, state media has reported. | Five men are due to appear in court in south-western China charged in connection with a multi-billion dollar fraud case, state media has reported. |
| The men are accused of forging over one million receipts worth a total of $147bn (£72bn) at a factory in Guizhou province. | The men are accused of forging over one million receipts worth a total of $147bn (£72bn) at a factory in Guizhou province. |
| Police identified the fraud after seizing a batch of the fake receipts in August 2007. | Police identified the fraud after seizing a batch of the fake receipts in August 2007. |
| It is the largest such case in over 50 years, a local security official said. | It is the largest such case in over 50 years, a local security official said. |
| 'Almost the same' | 'Almost the same' |
| The authorities found the first batch of fake receipts on a coach travelling between Guizhou and Yunnan provinces. | |
| This led police to one of the suspects and from there to the factory in Guizhou's Xingyi county. | This led police to one of the suspects and from there to the factory in Guizhou's Xingyi county. |
| "The fake receipts that were confiscated could load two lorries," Chai Jiaping, deputy head of the Qujing Municipal Public Security Bureau, told Xinhua news agency. | "The fake receipts that were confiscated could load two lorries," Chai Jiaping, deputy head of the Qujing Municipal Public Security Bureau, told Xinhua news agency. |
| The five men will be tried at Luoping County People's Court in neighbouring Yunnan province. | The five men will be tried at Luoping County People's Court in neighbouring Yunnan province. |
| "The fake receipts look almost the same as the real ones," Tang Xiaozhou, Luoping's taxation chief, told Xinhua. | "The fake receipts look almost the same as the real ones," Tang Xiaozhou, Luoping's taxation chief, told Xinhua. |
| "Consumers and even the tax collectors find it hard to distinguish." | "Consumers and even the tax collectors find it hard to distinguish." |
| "If put into the market, the national treasury would have lost more than 75bn yuan ($10.5bn, £5bn) in tax revenue." | "If put into the market, the national treasury would have lost more than 75bn yuan ($10.5bn, £5bn) in tax revenue." |
| Because of China's rapid economic growth, tax revenues have soared in recent years. | Because of China's rapid economic growth, tax revenues have soared in recent years. |
| But the authorities have admitted that they need to improve tax collection, and take more action against people failing to report their true income. | But the authorities have admitted that they need to improve tax collection, and take more action against people failing to report their true income. |
| There is an active black market for fake receipts in China, which companies can use to claim tax rebates on business expenses. | |
| Last month Li Linjun, spokesman for the State Administration of Taxation, announced a crackdown on fake receipts. | Last month Li Linjun, spokesman for the State Administration of Taxation, announced a crackdown on fake receipts. |