Group 1 - The recent notifications from tax authorities to taxpayers regarding the need to declare overseas income and pay corresponding taxes highlight the importance of compliance with tax regulations [1][6] - The core legal basis for declaring overseas income in China is the Individual Income Tax Law, which states that tax residents must pay taxes on global income [1][3] - Tax residents are defined by two criteria: the domicile standard and the residence duration standard, which determine whether individuals are subject to tax on their global income [2][4] Group 2 - Types of overseas income that are taxable include income from employment or services rendered abroad, dividends, interest, and capital gains from the transfer of overseas assets [3][4] - Taxpayers are allowed to offset gains and losses from overseas stock transactions within the same tax year, but not across different years [4] - China has adopted the Common Reporting Standard (CRS) for automatic exchange of tax information, which helps tax authorities identify underreported overseas income [5] Group 3 - Recent cases of individuals being penalized for failing to declare overseas income emphasize the significance of tax compliance [6] - Taxpayers can now declare overseas income through online platforms, and those with complex tax matters can visit tax service offices for assistance [6] - Taxpayers are encouraged to correct any previous underreporting of overseas income, even after the annual tax settlement period has ended [6]