Blockchain Report on Nostr: China's Ministry of Finance & State Admin of Taxation now mandate annual personal ...
China's Ministry of Finance & State Admin of Taxation now mandate annual personal income tax on undeclared gains from offshore trusts for residents. This includes assets transferred into trusts and all income generated, even if undistributed.
Individuals transferring assets will be taxed on the profit (market value vs. cost + expenses) as "property transfer income." Trust income must be declared annually by the resident, regardless of distribution.
A 90-day grace period starts from the regulation's implementation for those who haven't paid taxes for 2023-2025 to comply without penalties. Regulations are effective immediately. #China #Tax #OffshoreTrust #Compliance #PersonalIncomeTax
Published at
2026-07-24 09:23:35 UTCEvent JSON
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"content": "China's Ministry of Finance \u0026 State Admin of Taxation now mandate annual personal income tax on undeclared gains from offshore trusts for residents. This includes assets transferred into trusts and all income generated, even if undistributed.\n\nIndividuals transferring assets will be taxed on the profit (market value vs. cost + expenses) as \"property transfer income.\" Trust income must be declared annually by the resident, regardless of distribution.\n\nA 90-day grace period starts from the regulation's implementation for those who haven't paid taxes for 2023-2025 to comply without penalties. Regulations are effective immediately. #China #Tax #OffshoreTrust #Compliance #PersonalIncomeTax",
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