Billionaire beverage entrepreneur Zong Qinghou is being investigated for allegedly evading some 300 million yuan ($42. NFL Jerseys Wholesale .9 million) in taxes. The tax department of Hangzhou, Zhejiang province, the home base of beverage giant Wahaha Group, launched the investigation of the companys chairman after receiving a tip-off that he might have avoided paying personal income taxes over the past decade, Caijing magazine reported yesterday.  Zong Qinghou The probe, which started in August, has made substantial progress and is nearly finished, the report said. The State Administration of Taxation and the Hangzhou taxation bureau are discussing how to deal with the allegedly overdue tax payment. The Caijing report said the entrepreneur had paid more than 200 million yuan in arrears taxes in October, after the investigation kicked off, but still owes millions more. Both Zong and the Wahaha Groups spokesperson declined to comment yesterday, while a press officer of the State Administration of Taxation said he was not aware of the issue. People found guilty of evading more than 100,000 yuan worth of taxes – if that amount comes to more than 30 percent of their total tax bill – could face up to seven years in prison and fines of up to five times the value of the unpaid taxes. Zong, a 63-year-old native of Zhejiang, was Chinas 23rd-richest man and the worlds 840th richest last year, according to Forbes magazine last year. His Wahaha Group, the nations largest beverage maker, formed a partnership with French food and dairy giant Danone Groupe SA in 1996, but last year the pair became embroiled in a dispute over the ownership of the Wahaha brand and other businesses not included in the joint venture. They are still searching for a solution. Danone, which has 39 joint ventures with Wahaha, paid Zong $71 million in service fees and share dividends between 1996 and 2006, Caijing reported, citing bank transactions between Danone and Zong. The money was delivered to the Hong Kong-registered accounts of Zong; his wife, Shi Youzhen; his daughter, Zong Fuli; and the former Party secretary of Wahaha, Du Jianying – all at the entrepreneurs request, the magazine said. In a public letter delivered after Wahaha and Danones dispute was exposed, Zong claimed he was the cheapest CEO in history after earning a salary of 3,000 euros ($4,700), 100,000 euros worth of annual allowances and a bonus worth 1 percent of the annual profit of the joint ventures. That amounted to about 70 million yuan of income every year. The investigation showed that he earned far more than this and hasnt fully reported the tax for years, the magazine cited an investigator as saying. 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He also led American League backstops with a .997 fielding percentage and 78 assists in 2009. Rex Grossman Jersey .14 billion) to relocate people from remote mountainous areas in Northwest China has started, a provincial government said. Chinas outstanding loans to the rural sector grew 11.9 percent year-on-year to 7.59 trillion yuan ($1.11 trillion) in the first half, accounting for 20.8 percent of the countrys total outstanding loans, said a report from the Peoples Bank of China, the countrys central bank, Tuesday. Related readings:  Rural loans program wins international recognition  Rural China badly needs bank loans, regulator says  Regulator: Banks see fall in non-performing loans in H1  PBOC rules out monetary policy change Small credit loans outstanding from rural households stood at 251.86 billion yuan, up 17. Pittsburgh Steelers Sanders Jersey. .5 percent over the same time of last year, according to the report. The government has been trying to channel lending to the countryside to boost rural development as the rural financial market has been regarded as underdeveloped. The Communist Party of China Central Committee issued a document in October last year to call for the widening of financing channels to steer more credit to rural development. The call also urged lenders to expand agriculture-supporting businesses and offer more policy-based financial aid for agricultural development. (For more biz stories, please visit Industries) Wholesale Jerseys. Louis Rams, as the Cardinals finally clinched the NFC West for their first postseason appearance since 1998. The Cardinals (8-5) fell flat when victories against the New York Giants and Philadelphia Eagles in the previous two weeks could have given the club its first-ever NFC West title and first division championship of any kind since winning the NFC East back in 1975 while based out of St. ' ' '

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