Rose on September 1, "Chinese CRS " will formally raid!
Information of tax of financial account experience is about to be between and other places of Macao of Hong Kong of Australia, New Zealand, chinese mainland, China, China have first time exchange.
Yield corrupt official become terror-stricken at the news, make abroad Chinese anxious unceasingly, make China tall the CRS with net value terrifying crowd came!
Why does CRS let people fear panicky?
Say simply, CRS is the duty Wu information that exchanges between each country and area, basically checked pay taxes dweller to whether fulfill duty to pay taxes lawfully namely, because superintend,be short of estrangement law flaw before, you may be not handed in, did not realize oneself want to hand in even, but ought not to not hand in on behalf of you.
But nowadays, your individual asset and pay taxes circumstance will by exposure, fortune vitrification, and want close legally compasses.
In fact, it is early when 2017, in already 55 countries take the lead in adding CRS system, there is no lack of among them we are hep Bermuda, British the Virgin Islands, graceful archipelago, lustre wait on the west avoid duty heaven.
Before if you are returned,remembering this " Zhao Wei incident " if, zhao Wei and its husband Huang Youlong are leaving graceful, British the financial account of the the Virgin Islands account of fiducial, investment by exposure, they " empty glove white wolf " the method allows numerous investor loss, be fined finally and off-limits 2 class market, all these closely related the propulsion with CRS.
According to OECD (Asia-Pacific is organized via closing) data, end this year August, had had 90 between many countries and area, established the relationship of crossing-over of information of 3200 duty Wu, and as came in September, of information share more will concentrated.
Although just began to be carried out formally in September, but include Chinese Hong Kong, Australia and New Zealand to be answered very actively, the news of large quantities of abroad account is frozen before this, let whole banking group and Chinese circle astonish!
Hong Kong starts work already actively share with the mainland since September
Hong Kong actually all the time very active, in the light of CRS financial identifying did a lot of legislation to work, and already layout undertook information monitoring to financial account.
This year in March, media exposes to the sun piece include Hong Kong to collect Heng Shengyin of abundant bank, Hong Kong to wait all right internationally big bank inside, froze a large number of abroad account.
A lot of companies of chinese mainland and celebrity also are chatted about by each big finance orgnaization of Hong Kong and bank, the requirement fills in " ego proves " form, undertake account is checked at the same time, submit the document such as audit report and financial forms for reporting statistics, cannot offer place to need material to will be frozen bank account.
And the announcement according to OECD5 month, china already according to " multilateral taxation signs tubal coadjutant pact " the 29th regulation, will " convention " effectiveness expands formally at Hong Kong and Macao two ground.
This interest rises from September 1, the financial account that crowd of chinese mainland high net value is in Hong Kong and Macao will pass the automatic switching equipment of CRS to make, transfer Chinese tax authority.
10 thousand asset of Chinese $7000 are frozen by New Zealand
New Zealand media reported this year in June, if provide information of pay taxes of concerning foreign affairs or foreign nationals not in time, new Zealand bank will freeze your account.
In July, new Zealand each are big the commercial bank breaks out big move! Froze the abroad account of thousands of, the requirement affirms open an account whether does the person belong to foreign taxpayer.
The data that publishs at that time according to media, each big bank aspic bear account measure is as follows:
Kiwibank: 1900
ANZ: 200
ASB: 40
Westpac: Not open
BNZ: Not open
New Zealand law sets, annual before June 30, financial orgnaization must understand the duty Wu dweller that whether its client is other country, and to revenue (IRD) report detailed information.
And in this operation, the account that opens after July 1, 2017 has 8% to suffer an effect about, these by frozen account, capital will not be finished take out etc trade.
And be in on June 25, sell because of be suspected of passing bilk and the blame that wash money, the Xiao Hua of Gong of wealthy businessman of foreign citizen of Chinese origin that is sued by Canadian court, capital fund of some money of 70 million button are embraced to be frozen in New Zealand.
This one forehead also achieved New Zealand history most. It is reported includes the bank deposit of money of 69.5 million button among them, he is put in 6 different banks respectively, still have a value in addition the residence of money of 2.3 million button, be located in East Tamaki, its are bought with cash.
Domestic media reported last year, gong Xiaohua is suspected of holding close a case is sent outside controlling especially big area, experience case capital is as high as 1.9 billion yuan of RMBs!
Bank of New Zealand ANZ, the account existence that discovered Gong namely is doubtful the problem is reported to police.
As came in September, the duty Wu branch of New Zealand begins formally to begin to share financial account information with OECD country, in order to attack action of dodge a tax, the financial capital fund that more abscond corruption commits will exposure is shared with China.
Who still can be affected?
The be born of CRS, make a lot of people panicky.
Can make clear above all a bit, if you are in China, without the asset of the investment outside the condition, so CRS and you have nothing to do. Rose in September, china will collect the financial orgnaization of information of account of finance of dweller of the Wu that be not duty and other country to have trade.
So what is just duty Wu dweller?
Above all duty Wu dweller does not differentiate with citizenship. Every country is different also to the definition of duty Wu dweller, taxation dweller of China defines following plans.
Definition of dweller of Australian duty Wu is, if taxpayer is in successive or Australia is discontinuous at least 183 days, meet dweller of Wu of duty be consideringed as. Unless can prove to often live,reside an overseas, and do not plan often live in Australia.
Small make up cite a few simple case, will show next cases. These example and case of great majority Chinese are similar, but also differ because of individual circumstance among them and need special appraisal.
/ the Chinese / that owns foreign finance property
If Mr Zhang is duty Wu dweller of China, financial property is owned in Australia, may be regarded as to be not dweller finance account by Australia so, have asset information and Chinese revenue trade thereby.
That what is financial capital?
The explanation that the government offers is: The equity of orgnaization of finance of contract of insurance of value of deposit account, mandatory account, cash, annuity contract, hold / creditor's rights rights and interests.
/ live for a long time abroad Chinese /
Mr Li is Chinese citizen, but have Australia PR, live for a long time in Australia job, belong to dweller of Australia duty Wu. If he has deposit of money of 200 thousand button in Australia ANZ bank, in the Bank of China at the same time individual under one's name has 500 thousand RMB to deposit money.
So below CRS, how is financial information shared?
1, Australia ANZ bank
Above all although Mr Li is Chinese citizen, but the definition that accords with dweller of Australia duty Wu, accordingly he won't be regarded as dweller of foreign duty Wu, so his financial account information won't be shared orgnaization of Chinese duty Wu.
2, Bank of China:
According to the requirement of CRS, mr Li will share Australia in the interest income circumstance of Chinese finance account, after orgnaization of Australia duty Wu masters information, can decide Mr Li is in China the circumstance of financial account, whether to belong to should declare duty Wu, will seek pay duty with this.
Duty Wu information exchanges flow chart
So if appear a person, how does the circumstance of the taxation dweller that is two countries at the same time do?
This kind of circumstance still needs what have the aid of has signed at two countries to avoid double taxation agreement to solve, decide be in after all which country has duty to pay taxes.
Specific can consult total bureau of national tax Wu
" multilateral taxation treaty "
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Http://www.chinatax.gov.cn/n810341/n810770/index.html
/ Chinese overseas investment buys room /
Square young lady regards China as the citizen and belong to dweller of Chinese duty Wu, in Australia investment money of 1 million button buys a house, branch of this kind of state is planted.
1, house property puts in individual of square young lady 's charge direct hold
If put in individual hold 's charge, orgnaization of Australian duty Wu won't share house property information to give China. The main body of account of CRS identifying finance is financial orgnaization, commutative main body is the tax authority of each country.
But if house property is used at rent and producing income, rent profit enters Australian bank account, so these asset information are asked the likelihood to share.
2, square young lady passes company or fiducial hold house property
If be financial orgnaization,participate in an operation, the account that with respect to need then the CRS that finish issues identifies and news bulletin sends obligation.
According to the definition that government of Chinese duty Wu gives out, financial orgnaization type:
Include deposit orgnaization, mandatory orgnaization, investment orgnaization and specific insurance device;
Do not include financial capital to manage company, financial company, finance to rent company of manager of firm of banking of company, car banking firm, consumption, money, negotiable securities to register settle accounts orgnaization to wait
And besides house property, calligraphy and painting of the houseboat that your overseas invests direct hold, racing bike, antique, gem, cash is not finance etc kind asset is not in CRS limits.
Below CRS, gao Jing is worth a crowd, the officeholder of overseas Tibet money, be in a lot of avoiding that duty heaven establishs the familial and fiducial plute group, illegal businessman that washs money through be engaged in international trade overseas setting a company to wait to will be affected badly.
What so you should do is, declare legally, lawful pay taxes.
If conceal,did not declare, face fine of pay tax evaded, pay and the risk that be imprisoned so possibly.
Share as duty Wu information
And wash money instead, avoid duty is carried out energetically instead
Evade taxation of dodge a tax, corruption breaks the law will not have place escape form
At the same time your belongings is configured also this are reasonable program
Understand and learn duty Wu knowledge
Must not do illegal thing
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