风暴来临！事关港股、美股

Core Viewpoint - The article discusses the increasing scrutiny and regulatory measures regarding the declaration of overseas income for Chinese taxpayers, particularly in light of the Common Reporting Standard (CRS) and the implementation of the Golden Tax Phase IV system, which enhances the transparency of cross-border financial activities [2][7][12]. Group 1: Overview of Tax Compliance - The annual personal income tax settlement period closed on June 30, 2025, but tax authorities continue to send reminders to taxpayers holding overseas assets, indicating a tightening of tax compliance [2][6]. - The CRS network now covers over 150 jurisdictions globally, facilitating the exchange of financial account information and increasing the transparency of overseas income [2][7][12]. - Taxpayers are advised to systematically review their tax compliance and identify risks, including clarifying their tax residency status and understanding the tax implications of their overseas income and asset allocations [2][6][12]. Group 2: Regulatory Developments - The tax authorities are focusing on individuals who have not declared overseas income, especially those who have received income from overseas investments in Hong Kong and the US [6][8]. - The implementation of the Golden Tax Phase IV system is expected to enhance the monitoring of cross-border income and asset information, making it technically feasible to track overseas earnings [7][12]. - Taxpayers are reminded that all global income must be declared, and there is no threshold for declaring small amounts of overseas income [11][12]. Group 3: Common Misunderstandings - Many taxpayers mistakenly believe that income already taxed overseas does not need to be declared in China, or that certain types of income, such as interest from domestic sources, are exempt from tax [8][10]. - Taxpayers may also overlook the requirement to declare capital gains or dividends from overseas investments, assuming that small amounts do not need to be reported [11][12]. - The article emphasizes that tax residency is determined by various factors, and individuals may still be considered tax residents in China even if they reside abroad for extended periods [10][12]. Group 4: Future Tax Compliance Trends - The article highlights the importance of proactive tax compliance, urging taxpayers to accurately assess their global income and maintain proper documentation for potential audits [16][17]. - High-net-worth individuals are particularly encouraged to view tax compliance as a critical aspect of their financial management, given the complexities involved in declaring overseas income [16][17]. - Legal and compliant tax planning strategies are suggested, such as utilizing investment vehicles that may offer tax benefits while adhering to Chinese tax laws [17].