top of page

China's New Tax Rule - Bloomberg

Updated: Aug 4, 2021

A revised tax code that saw rich Chinese rushing to shelter trillions of assets and income in overseas trusts is hitting the news again.

The new rule - intended to lower the burden on the poor and the middle class by making the rich pay more - took effect in 2019. Chinese citizens have been obliged to pay taxes on their global income for many years. But for those working abroad, it hadn’t been generally enforced. In January this year, Chinese authorities issued instructions on how to comply with the tax law while abroad -- a move that caught many Chinese expats off guard.



How does this new rule affect estate planning? We're looking to feature experts on this topic. Please reach out to j@immortalize.io if you have an interesting view to share!






Find a professional, compare prices, and kickstart your estate planning

 

Disclaimer: Nothing in this article or site should be construed as providing legal advice or advice of any sort. The information provided are general in nature and may become inaccurate over time. Please consult a professional for advice.


For any issues or queries, please contact j@immortalize.io



0 comments

Comments


bottom of page