Tag: ultra-rich

Wealthy Chinese are facing a new tax on overseas investment gains, with potential levies up to 20%. This initiative supports President Xi's campaign for wealth equality and is part of efforts to enhance government revenue as economic growth slows.
Posted in Business

China moves to tax the ultra-rich for overseas investment gains

China has begun enforcing a long-overlooked tax on overseas investment gains by the country’s ultra-rich, according to people familiar with the matter. Wealthy Chinese are…

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