Cash-strapped China targets offshore wealth with new tax

AI Summary

China is imposing a new 20% tax on dividends and interest earned through offshore trusts. The measure targets wealthy Chinese individuals and is intended to help address a growing fiscal shortfall.

China is levying a new 20% tax on dividends and interest from offshore trusts, targeting the country’s super-rich to help fill a growing fiscal hole. Read More: https://punchng.com/cash-strapped-china-targets-offshore-wealth-with-new-tax/