CX Daily: China Clarifies Offshore Trust Tax Rules Ahead of Oct. 22 Deadline
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China Clarifies Offshore Trust Tax Rules Ahead of Oct. 22 Deadline
China’s top tax authority has clarified enforcement rules for the new tax on offshore trusts, defining the threshold for extended retroactive collection and exempting employee stock incentive trusts from the tax.
The State Taxation Administration (STA) on Monday reminded taxpayers with existing offshore trusts to declare and pay back taxes by Oct. 22 to avoid late fees.
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