Chinese tax authorities remind taxpayers to conduct self-inspection of foreign income over the past three years

BlockBeats News, January 16 — According to Xinhua News Agency, the relevant departments of the State Taxation Administration have continued to strengthen publicity and guidance on residents' personal income tax on overseas income. Since last year, taxpayers have been reminded to conduct self-inspections on income obtained from abroad between 2022 and 2024. In accordance with laws and regulations such as the Tax Collection and Administration Law, if taxpayers fail to file tax returns or make calculation errors resulting in non-payment or underpayment of taxes, the tax authorities can pursue back taxes and late fees within three years; if tax evasion is involved, appropriate legal action will be taken. It is a common international practice for residents to pay personal income tax on income obtained from domestic and foreign sources, which helps prevent cross-border tax evasion and safeguard the country's tax revenue rights.

The tax authorities remind that paying taxes according to law is the obligation of every citizen. If taxpayers find that they have previously failed to declare overseas income as required, they should correct their declarations in a timely manner according to law.