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Leave your emailThe transition period for offshore trust tax declarations will end on October 22, and late fees will be charged to entities that fail to complete declarations by the deadline.
Read originalThe State Taxation Administration has issued a reminder regarding offshore trust tax filing. This reminder was published by Beijing News, and further specific filing requirements, scope of application, and other details have not been disclosed at this time.
Read original22 October is the deadline for individual income tax filing on overseas income in mainland China, and some Chinese high-net-worth individuals are currently raising funds by disposing of assets to settle back tax payments. This matter relates to mainland China's individual income tax administration on overseas income and the CRS information exchange mechanism.
Read originalThe deadline for individual income tax declaration on overseas income is approaching on October 22, and Chinese wealthy are "cutting flesh" to pay back taxes. This report comes from Canada News Network and does not mention specific back tax amounts, details of applicable rules, or information on relevant regulatory authorities.
Read originalSingapore's CARF has been officially implemented, marking the entry of local crypto tax transparency efforts into the execution phase. This initiative will promote cross-border exchange of crypto asset-related tax information and regulatory collaboration.
Read originalAccording to Lianhe Zaobao reports, Chinese ultra-high-net-worth individuals are terminating offshore trusts and raising funds to address tax collection. Details regarding the specific scale of trusts involved, tax collection policy specifics, and relevant enforcement departments have not yet been disclosed.
Read originalThe Hong Kong SAR Government published the Inland Revenue (Amendment) (Tax Deduction for Intellectual Property Expenditure) Bill 2026 in the Gazette on October 16, relaxing tax deduction arrangements for relevant capital expenditures incurred by enterprises in acquiring eligible intellectual property or obtaining licenses to use it.
Read originalThe Chief Executive in Council made six orders on October 6, 2026, under the Inland Revenue Ordinance (Cap. 112) to implement comprehensive avoidance of double taxation agreements signed with Barbados, Jordan, the Kyrgyz Republic, the Maldives, Norway, and Rwanda. The orders were published in the Gazette on October 16, 2026, and tabled before the Legislative Council on October 21 under the negative vetting procedure.
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