CN Offshore Trust Income Tax Transition Period Ends; Total Declarations Exceed RMB160B
AASTOCKS News·
- The State Taxation Administration of China announced the successful conclusion of the transition period for the offshore trust income taxation policy.
- Taxpayers actively cooperated, resulting in a cumulative personal income tax declaration exceeding 160.0 billion RMB related to offshore trust income.
- The collections in October alone surpassed 120.0 billion RMB, driving a year-on-year surge of nearly 90% in national personal income tax revenue for that month.