Financial Times: Strengthen supervision of personal overseas income, and income from overseas stock trading must also be taxed
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最新报道：According to a report from Bijie.com and the Financial Times, some taxpayers have recently received notifications from tax authorities informing them that they must declare and pay the corresponding taxes on their overseas income. China has participated in the automatic exchange of information on financial accounts in tax matters, or CRS, a global standard for automatic exchange of tax information developed by the Organization for Economic Cooperation and Development (OECD). CRS provides access to data on individual residents' overseas financial accounts. By comparing this data with individual income tax returns, tax authorities can accurately identify any underreporting of overseas income. Reporters noted that at the end of March this year, tax authorities in Hubei, Shandong, Shanghai, Zhejiang, and other provinces published case studies addressing the risks of taxpayers who failed to declare their overseas income in accordance with the law.
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