Chinese Tax Authority Reminds Taxpayers to Conduct Self-Inspection on Overseas Income in the Past Three Years

Xinhua News Agency January 16 China’s tax authorities are ramping up public outreach and guidance on individual residents’ overseas income tax compliance, the State Taxation Administration announced Thursday. Since last year, taxpayers have been reminded to self-audit their overseas income from 2022 to 2024. Under laws including the Tax Collection and Administration Law: - If taxpayers fail to declare or underpay due to calculation errors, authorities can recover unpaid taxes plus late fees within three years. - For tax evasion cases, the issue will be handled in accordance with the law. It’s an internationally accepted practice for resident individuals to pay personal income tax on both domestic and overseas income — a measure to prevent cross-border tax evasion and safeguard the country’s tax rights. Tax officials note that paying taxes lawfully is every citizen’s duty. Those who haven’t declared their overseas income as required should make timely corrections and file the necessary declarations.