加强个人境外收入监管！央行主管媒体发声

Core Viewpoint - Recent regulatory changes in China emphasize the taxation of overseas income, particularly from stock trading, which may significantly impact high-net-worth individuals and their compliance costs [4][11]. Regulatory Changes - Starting August 8, 2023, interest income from newly issued government bonds, local government bonds, and financial bonds will be subject to value-added tax [1]. - The State Administration of Taxation has intensified oversight on personal overseas income, mandating that income from overseas stock trading must be declared and taxed [4][8]. Taxation Details - Income from overseas stock trading is classified as property transfer income and is taxed at a rate of 20% [4]. - Taxpayers are allowed to offset gains and losses from overseas stock trading within the same tax year, but cross-year loss offsets are prohibited [4][8]. Monitoring and Compliance - High-net-worth individuals are now a focus for tax authorities, with increased scrutiny on those holding overseas assets [5][11]. - Tax authorities utilize a five-step approach for enforcement, including reminders, corrective actions, and potential investigations for non-compliance [9]. Market Impact - The new regulations are expected to raise compliance costs for celebrities, influencers, and major shareholders of listed companies due to their significant asset sizes and frequent cross-border activities [11]. - There is a growing demand for compliant investment channels, with a 37% year-on-year increase in investors using compliant methods for cross-border asset allocation [12][13].