• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 13 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Reports claim Chinese authorities now imposing 20% tax on foreign investment gains of citizens amid economic woes

Pierce Chan by Pierce Chan
Wed 16 Oct 2024 at 04:50
Slowing Chinese tourism recovery to pressure economic growth: Fitch
19
SHARES
478
VIEWS
Print Friendly, PDF & Email

China has started to levy a tax of up to 20% on overseas investment gains of the country’s ultra-rich as it looks to expand revenue sources amid a slumping economy and declines in domestic land sales.

According to a report by Bloomberg, wealthy individuals in some major mainland cities have been asked to conduct “self-assessments” or have been summoned to meetings by tax authorities to evaluate potential payments, including amounts accrued over the past few years.

Authorities are said to be targeting those who have offshore assets of at least US$10 million, as well as some shareholders of companies listed in Hong Kong or the US.

Such taxes are being levied at up to 20% on investment gains with penalties on overdue payments, although the final amounts payable are open to negotiation, Bloomberg said.

It also suggested that the move highlights growing urgency in China to expand its revenue sources amid a decline in land sales and slowing economic growth, while aligning with Xi Jinping’s “common prosperity” campaign.

Taxing the overseas investments of Chinese nationals has long been official policy, Bloomberg added, but hasn’t typically been enforced until now.

The stock markets of both China and Hong Kong have declined over the past week, having previously enjoyed a brief surge during the National Day holiday period from 1 to 7 October. Last Tuesday 8 October, Hong Kong’s Hang Seng Index fell by 2,172 points, its highest single-day drop in history.

RelatedPosts

A New Macau

Macau gaming tax hits US$5.6 billion through first six months of 2025

Sun 13 Jul 2025 at 05:27
Macau ranks first in China Tourism Academy’s “2024 Chinese Travellers Outbound Satisfaction Top 10 Destinations”

Macau ranks first in China Tourism Academy’s “2024 Chinese Travellers Outbound Satisfaction Top 10 Destinations”

Sun 29 Jun 2025 at 09:57
Falling Thailand visitor numbers linked to safety concerns as IR operators say it’s time to reboot tourism offering

Falling Thailand visitor numbers linked to safety concerns as IR operators say it’s time to reboot tourism offering

Thu 12 Jun 2025 at 16:40
MGM looking to win hearts in Osaka with May IR exhibit

MGM Resorts calls on Thailand to ensure competitive tax rate, access for locals

Thu 22 May 2025 at 05:59
Load More
Tags: ChinaeconomyInvestmentstaxXi Jinping
Share8Share1
Pierce Chan

Pierce Chan

With more than five years’ experience working as a journalist in Macau, Pierce is an experienced media operator with strong skills in news writing and editing. He previously worked with Exmoo, first as a reporter covering government, gaming and tourism-related stories, then as a Deputy Assignment Editor helping set the agenda of the day. Pierce is a graduate of the University of Macau.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Renowned gaming lawyer Jamie Nettleton to represent IMGL on Judging Panel for inaugural RTG Global Awards

GLI to continue as Gala Dinner Sponsor for Regulating the Game 2026

by Newsdesk
Sun 13 Jul 2025 at 05:48

Leading gaming law and regulation conference Regulating the Game has announced that Gaming Laboratories International (GLI) will return as sponsor of the event’s Gala Dinner in 2026 conference, reaffirming its status as a foundation sponsor. Now in its sixth edition,...

A New Macau

Macau gaming tax hits US$5.6 billion through first six months of 2025

by Newsdesk
Sun 13 Jul 2025 at 05:27

According to data released by Macau’s Financial Services Bureau (DSF), the Macau government’s revenue from gaming taxes in the first six months of 2025 reached MOP$45.3 billion (US$5.60 billion), representing a 1.0% year-on-year increase. It also means gaming tax revenue...

Macau After Dark – MAD 30: Official Highlights Video

Macau After Dark – MAD 30: Official Highlights Video

by Newsdesk
Sat 12 Jul 2025 at 10:38

Leading gaming industry media brand Inside Asian Gaming held its latest edition of Macau After Dark, MAD 30, at Vasco – Bar & Lounge at Artyzen Grand Lapa Macau on Monday 7 July. The event saw leading representatives of the...

OPINION: Macau wants to recruit “foreign” customers? Great! Here are some ideas.

Air Macau suffers more losses, receives near US$300 million capital injection from shareholders

by Pierce Chan
Sat 12 Jul 2025 at 10:36

Air Macau, currently the only airline with an operating license in Macau, is facing continuing losses and recently announced that it has received a capital injection of approximately MOP$2.4 billion (US$297 million) from its shareholders. This is the second capital...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English