The Year of CRS Implementation! How to Effectively Protect Asset Security?
Event Time: Thursday, March 15, 13:30-16:30
Hotline: 400-009-1807
Event Address: 28th Floor, Tower B, China Resources Building, No. 6A Shandong Road, Shinan District, Qingdao
2017 was the inaugural year of the Common Reporting Standard (CRS), and 2018 is the first year of its full implementation. With the arrival of 2018, the countdown to China's first exchange of financial account tax information under the CRS in September 2018 has begun. There is truly little time left for high-net-worth individuals to address the implications of global CRS taxation.
In simple terms, the CRS exchange of tax-related financial information means that in the future, account information of foreign tax residents in China will be collected by China and submitted to their respective national tax authorities; conversely, account information of Chinese tax residents held abroad will be collected by foreign tax authorities and submitted to the Chinese tax authorities. This means that Chinese tax authorities will be able to obtain information from foreign financial institutions regarding the assets and bank deposits held abroad by Chinese high-net-worth individuals.
The first year of CRS implementation has arrived, and the overseas asset information of high-net-worth individuals is becoming increasingly transparent. Planning one's tax residency status to avoid the disclosure of global asset allocation information has become an urgent priority!
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