China Tightens Taxation of Offshore Trusts, Warns of Crackdown on Tax Evasion
China has required wealthy investors with offshore trust assets to declare them and pay tax. In October 2026, related personal income tax revenue exceeded 120 billion yuan, helping drive a 90% year-on-year increase in monthly personal income tax revenue. Tax authorities say they will investigate those who fail to declare their assets or file false declarations.
