China Follows up Citizens' Income in Order to Tariff

China Follows up Citizens' Income in Order to Tariff

It is stated that China has started to follow up to tax its citizens abroad. According to sources with knowledge of the subject, it was stated that China started to follow some of its citizens residing abroad in order to tax it. This move of China surprised everyone, since those who had earned money abroad did not pay taxes in their own country. It is said that public companies serving in Hong Kong, which is one of the places with the lowest taxes in the world, asked the Chinese citizens to declare their 2019 earnings in order to be able to pay taxes on the mainland in the near future. According to two sources whose names are not mentioned, Chinese public companies inform those working in other countries such as Singapore in this context. China, which has a tax rate of 45 percent, applied convenience in income tax rules in January - similar to the U.S. - to assist authorities in tax collection from Chinese citizens around the world.