🤷 What does 13 billion yuan mean? Who will be taxed?


From January to May alone, residents paid an additional 13 billion yuan in taxes on extra income, and this is just part of it. Including missed and hidden points, the total estimate is around 20 billion to 26 billion yuan.
For CRS, the overseas tax payment ratio is 20%. Based on 20 billion yuan, mainland residents have earned over 1M yuan overseas!
What does 100 billion yuan mean? It’s still a huge and impressive amount of money!
🔔 Who will be taxed?
Currently, 90% of the taxed users are those with over one million US dollars, so those below seven figures don’t need to worry for now.
In fact, overseas income declaration has always existed. The main reason it wasn’t taxed before was due to technical limitations.
With the advancement of the fourth phase of the Golden Tax project over the past two years and the comprehensive exchange of CRS information, the coverage will become increasingly widespread, especially among major brokerages. Hong Kong brokerages are basically unable to escape the coverage area!
Friendly reminder: Be honest in paying taxes; paying taxes is an honor.
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