BIGOD COMMUNITY

China has introduced a 20% tax on offshore trusts, requiring wealthy residents to declare overseas assets and pay tax on both transferred assets and annual trust income. Foreign passports no longer exempt individuals whose main economic interests remain in China. Authorities have given a 90-day voluntary disclosure period before imposing stricter penalties, a move that could reshape offshore wealth management and potentially trigger new capital outflows https://x.com/bigodtoken/status/2082657373399941574?s=46