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https://tinyurl.com/y8wq75tl

China Starts Taxing Its Citizens for Global Income

Bloomberg News

China has started tracking down some of its citizens living abroad to collect
taxes, surprising expatriates who never had to pay levies back home on
overseas income, according to people familiar with the matter.


State-owned enterprises operating in Hong Kong, which has one of the lowest
tax rates in the world, told mainland Chinese expats recently to declare
their 2019 income so they can pay taxes at home, according to the people, who
asked not be named because they aren’t authorized to speak publicly on the
matter. Chinese SOEs are also informing employees working in other places
such as Singapore, two of the people said.


China, which charges taxes of as high as 45%, revised its income tax rules
January last year to help authorities start collecting money from its
citizens worldwide — similar to what the U.S. does with Americans living
abroad. But Beijing only disclosed detailed instructions this year on how to
file such taxes, catching many expatriates flat-footed.

The move signals the beginning of what could be a major shake-up for one of
the largest expat communities in the world as some could see their tax bills
soar. Though specific statistics on expats weren’t immediately available,
Chinese state media have reported there are about 60 million ethnic Chinese
living overseas.

There are 80,000 to 150,000 mainland Chinese working in Hong Kong, according
to the South China Morning Post, which earlier reported on the issue. Chinese
citizens working in Macau have also been told to start paying income taxes
back home, according to the Nikkei Asian Review.

China’s State Taxation Administration didn’t immediately respond to a fax
seeking comment.

The move could be a big blow for Chinese expats working in places such as
Hong Kong, who’ve only had to pay a maximum of 15% of their salaries in
taxes. That’s one third of mainland China’s highest tax bracket.

It’s not just paychecks. The rules also subject income from dividends and
property sales to taxation back home, said Jia Zeliang, chief executive
officer at wealth-planning adviser Ishtar Consulting Inc. That’s likely to
force many companies to shoulder much of the extra tax burden or risk an
exodus of Chinese expats, Jia said.

Though Chinese nationals have theoretically been obliged to pay taxes on
their global income for many years, it hadn’t been enforced, said Jacky Chu,
who heads PwC China’s global mobility services. The change could be a boon
for accounting firms.

“We have seen a surge of companies asking for our advice,” Chu said. “
China didn’t have such a large number of expats working overseas when the
old tax legislation was drafted decades ago. That could be why many people
were not entirely aware of the requirement.”






好!  簡單講

中國已開始要求部分海外中國公民繳納所得稅

重點是啥?

海外中國公民  從來不需要針對海外收入   繳稅給中國政府

僑居國外的中國公民   大約6000萬株韭菜





所以中國開始缺錢了?

這樣的話

那些整天支持統一的

三小新黨啦   愛國同心會

趕快繳稅啊   不然你們是在支持三小?




--
posted from Ios bbs reader on my B.B. Call



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