What does it mean to impose such a high tax?
Bloomberg: China has begun to tax the overseas investment income of super-rich people, and the tax rate may be as high as 20%
Gronhui October 15 | Bloomberg quoted sources as saying that China has begun to tax the overseas investment income of domestic super-rich people, and the relevant tax rate may be as high as 20%.
In recent months, some wealthy people in major Chinese cities have been asked to self-assess or have meetings with tax authorities to assess potential taxes payable, including arrears in the past few years.
It is reported that individual investors will face investment income taxes of up to 20%, and some people may be fined for overdue tax payments, but the final tax amount can be negotiated.
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