Tax Evasion Report: Trouble Brewing in Group Buying? 团购被曝逃税 行业整顿或在即
The unruly and ultra-competitive group buying space could soon add tax evasion to its growing list of woes, with a new report saying the turbulent sector may owe more than 500 million yuan, or $77 million, in unpaid taxes. (Chinese article) The report cites Analysys International, a fairly respected Internet research house, as the source of the report, but clearly this kind of figure came directly from tax officials or was derived using data they supplied, as there’s no way Analysys could get access to this kind of data from the companies themselves. As such, the report looks particularly worrisome for the already-turbulent sector, hinting at a pending crackdown by tax officials which could see the closure of many smaller players in a space which has seen explosive growth in the last two years. The sector already received a blow earlier this month when a leading player, 55tuan, was rebuffed in its search for a Western investment bank to sponsor a planned New York IPO, after several banks it approached reportedly worried about the accounting of its numerous acquisitions over the last two years. (previous post) Gaopeng, the group buying joint venture between Tencent (HKEx: 700) and Groupon, has also been laying off hundreds of staff, leading many to question the company’s future. Three of the sector’s leading players, 55tuan, along with Lashou and Dianping, raised a collective $500 million combined earlier this year, as domestic and international investors clamored for a piece of a future Chinese Groupon. This latest wrinkle on the tax evasion front looks like a major clean-up could be coming soon, potentially hitting even some of the big players. Investors should watch for some interesting times ahead, as China’s overinflated Internet bubble looks set to burst in the not-too-distant future.
Bottom line: A new report on tax evasion by online group-buying sites is the latest sign that this unruly, ultra-competitive sector is due for a clean-up in the near future.
团购行业麻烦不断，或即将再添逃税一项。最新报导称，团购行业每年逃税或逾5亿元。媒体报导援引的是研究机构易观国际（Analysys International）的说法，但此类数据显然直接来自税务官员，或从他们提供的数据推测得出，因为易观国际无法从团购企业获得税务信息。所以，对于本来就很混乱的团购行业来说，这一报导尤其令人不安，预示着税务官员或将整顿团购行业，许多规模较小的团购企业或因此倒闭。过去两年，团购行业呈现爆发式增长。本月稍早窝窝团拟赴美上市，但其接触的各大投行均对其过去两年多起收购的会计问题表示担忧，因而拒绝为窝窝团融资。腾讯(0700.HK)和Groupon合资成立的高朋网也裁员数百人，令众人质疑该公司的未来。今年早些时候，由于国内外投资者希望在中国团购行业分得一杯羹，目前该领域的三大领先企业–窝窝团、拉手网和大众点评网共募集到5亿美元风险投资。这次团购逃税风波或预示行业整顿在即，甚至一些大型团购公司也可能受到冲击。投资者应关注这一前景，因为中国互联网泡沫似乎在不远的将来即将破灭。
一句话：有关团购网逃税的最新报导表明，这一混乱且竞争激烈的行业可能即将面临整顿。
Related postings 相关文章:
◙ Gaopeng, Kaixin Spotlight China Internet Turmoil 高朋网、开心网凸显中国互联网混乱现状
◙ Gaopeng Lay-Offs Auger Ad Spending Downturn 1高朋裁员预示网络广告支出或大幅下降
◙ Trouble Lurks in China Group Buying, as Gaopeng Drops Baidu 高朋停止百度的广告投放 团购行业初露窘相
