China Ends Offshore Tax Transition Period After Collecting 160 Billion Yuan
China's tax administration concluded a 90-day grace period for declaring global income and offshore trust earnings.
2026年11月15日
/ DANGDI / DANGDI / DANGDI /Chinese tax authorities have ended a 90-day offshore income tax transition period. This change directly affects overseas Chinese residents holding cross-border assets or earnings.
China's State Taxation Administration announced that declared taxes exceeded 160 billion yuan. The transition period covered personal income tax on worldwide earnings and offshore trusts.
Tax officials issued a firm warning following the end of the transition. Individuals who filed inaccurate reports face mandatory back-payments and late-payment surcharges.
Tax authorities will also carry out targeted audits against unreported offshore income. The measures reflect Beijing's heightened tax compliance focus on global assets. Information for this report was provided by Xinhua News Agency.
Source: Xinhua
