China Unlimited

[RealDutch]

Income from operations before income taxes $55.4M
Income taxes $38.7M ?

Someone else noticed it too. LOL.

http://seekingalpha.com/article/4045831-xinyuan-real-estates-xin-ceo-lizhou-zhang-q4-2016-results-earnings-call-transcript?part=single

Unidentified Analyst

Hi, couple of questions about the tax rate, looks like you’re paying about 70% in tax. Can you explain the breakdown of the tax?

Yuan Zhang

In our financial statement, the tax actually mainly consists of two categories, one is CIT and the other is LAT. So for the CIT, for year 2016, it’s around $40 million and LAT is more or less the same $20 million. And CIT rate is about 26% and LAT is about 38%.