Financial Times: Income from overseas stock trading must be declared for tax purposes, and profits and losses within the year can be offset.

According to news from Hash World, the Financial Times reported that recently, the Chinese tax authorities notified taxpayers to declare their overseas income and pay taxes in accordance with the law. Personal income tax on overseas stock trading income is levied at a rate of 20% and must be declared in the following year. Tax authorities allow taxpayers to offset profits and losses within the same year, but do not support cross-year deductions. Failure to declare truthfully will result in the requirement to pay back taxes and late fees, and those with serious violations will face penalties. Tax authorities strengthen supervision of overseas income through means such as CRS.

#金融 # China tax #国际收入 # stock market #CRS