Central Bank Voices Strengthening Overseas Income Supervision, Foreign Stock Incomes Must Be Taxed

1、People's Bank: 1000 billion yuan in net injection, reverse repurchase of 2000 billion yuan

Important degree: *****

The People's Bank announced the liquidity injection situation for various tools in July. Net injection was 1000 billion yuan, and net injection through reverse repurchase was 2000 billion yuan. No open market government bond purchases were made.

2、Strengthening Personal Overseas Income Supervision, Foreign Stock Incomes Must Be Taxed

Important degree: *****

On August 4th, an article published in the Financial Times revealed that tax authorities had notified taxpayers of their obligation to declare and pay taxes on foreign income. According to China's individual income tax law, foreign stock trading income belongs to capital gains and should be taxed at a rate of 20%. Individuals who have not declared or underreported their foreign income will face penalties, including fines and possible criminal charges.

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