EconomyChina targets offshore trusts in widening tax drive
Chinese taxpayers had until Thursday to pay outstanding taxes linked to offshore trusts as the government seeks new revenue to ease fiscal strains. A policy taking effect Friday imposes a 20 per cent tax on the initial value of trust assets and a 20 per cent tax on distributions. The taxes are backdated to January 1, 2023, with a 90-day penalty-free grace period.
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South China Morning Post★★★☆☆2026-10-22 09:25Original
China targets offshore trusts in widening tax drive
Economy