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The Economic Times

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Cash-strapped China targets offshore wealth with new tax

China has introduced a 20 percent tax on dividends and interest from offshore trusts to combat a fiscal deficit. Wealthy citizens must settle these taxes by Thursday within a 90-day transition period. This measure aims to reclaim billions of dollars held overseas and bolster the economy amidst ongoing financial challenges. Officials emphasize the importance of these taxes in keeping capital within China for technological advancement.

22 Oct 2026 8:36 am