According to China's "People's Republic of China (PRC) Tax Collection Management Law" and "Measures for the Administration of Tax Registration" and other relevant laws and regulations, taxpayers should declare tax information on schedule and keep relevant vouchers and records. The tax authorities have the right to require taxpayers to provide relevant information, including information such as bank flow. If the tax authorities check the bank flow and find that there are illegal acts such as tax evasion, they can impose tax penalties on the parties concerned. For example, it is required to pay back the taxes owed, plus late fees and fines. For major violations, criminal responsibility may also be investigated. At the same time, the tax authorities also need to follow legal procedures when checking the bank's running water. The taxpayer's bank account information belongs to private information, and it needs to be legally authorized when it is obtained, otherwise it is illegal to obtain personal information.
What is the procedure for tax authorities to check the bank's running water? Tax authorities need to be authorized according to law before checking the bank's running water, such as collecting relevant investigation letters and other documents. At the same time, it is necessary to clarify the scope and purpose of the investigation and protect the privacy of taxpayers.
The consequences of checking the bank's running water by the tax bureau may involve tax punishment and criminal responsibility, so taxpayers should keep relevant vouchers and records on the premise of observing tax laws and regulations. Tax authorities should follow legal procedures to protect the privacy of taxpayers when checking the bank's running water.
Legal basis:
Article 55 of the Law of People's Republic of China (PRC) on the Administration of Tax Collection, the tax authorities shall inspect and investigate the relevant financial statements, vouchers, materials and other relevant materials of taxpayers and withholding agents according to law.