China's Tax Authority Clarifies Overseas Income Rules as CRS Exchange Intensifies

According to the State Tax Administration of China on August 7, Chinese tax residents must fulfill their tax obligations on global income, and overseas insurance gains fall within taxable income scope. The authority clarified this is not a new policy nor specifically targeting Hong Kong insurance markets, noting that investment income from overseas sources—including insurance benefits—must be reported and taxed in accordance with law. The rules apply uniformly across all countries and regions.
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