What impact has global taxation had on the rich in China since July?

I still remember a plot in the movie "Old Six", that is, Liu Ye got a UBS bank statement with a balance of more than 7 million euros from Tan. ...

It is this bank statement that has changed the confrontation between "Xiao Paoer" and "Lao Liu", and also made the powerful father Tan's black hat fall to the ground.

The plot will come true, which is a sign that CRS is coming. "China so many rich people, I want to check also can not find. Anyway, the tax authorities in China can't find it. " This is what most high-net-worth individuals who have multiple accounts abroad take for granted.

Now, dare you say so? Such a good day is coming to an end. For the rich, the world is getting more and more troublesome! To put it more bluntly, this is aimed at the situation that many rich people have obtained overseas status and collected money at home, but their wealth has been transferred abroad in large quantities.

State Taxation Administration of The People's Republic of China, the Ministry of Finance, the Central Bank, the China Banking Regulatory Commission, the China Securities Regulatory Commission and the China Insurance Regulatory Commission jointly issued the Administrative Measures on Due Diligence of Tax-related Information in Non-resident Financial Accounts, which will be implemented on July 1 day.

China version of CRS boots landed, and the cross-border transfer exceeded 1 000 USD, which shows that the prelude of anti-money laundering supervision in China is about to start. ...

Don't think it has nothing to do with ordinary people. This time, the Measures for the Administration of Reports on Large-value Transactions and Suspicious Transactions of Financial Institutions is really closely related to us.

You know, before that, the amount we need to declare is more than $50 thousand. This political reform can only explain one problem-money is getting harder and harder to come out.

Stiff head Bian Xiao should first remind some people who don't know the situation that they are just traveling and shopping overseas. In fact, these things have almost nothing to do with what I want to say, because there is no need to exchange foreign exchange for traveling abroad. Just do one thing: bring your bank card!

When you swipe your card, including withdrawing cash from foreign ATMs, you don't need to exchange foreign exchange yourself, and you don't occupy your annual foreign exchange quota of 50 thousand dollars, let alone any overseas bank account. As long as you don't exchange money, it's related to studying abroad. Just follow the normal process, it's okay, don't worry. ...

Not to mention ordinary people, even the business tycoon Rainbow Jianlin wants to buy it overseas in buy buy. No wonder both Li Ka-shing and Chongqing Li Ka-shing have sold their overseas assets. They are far-sighted and really admire Li Ka-shing. ...

However, for those rich people who are keen to hide their assets in overseas accounts to avoid taxes in their countries of residence, a "sword of Damocles" has been hanging over their heads. These people should be careful.

Not only can the money not go out, but the existing non-resident financial account information will also be checked. The personal asset information surveyed includes not only bank deposits, but also stocks, bonds, funds and insurance.

This time it is to prepare for information exchange with other countries in the future, and other countries will also provide our tax authorities with the assets of our residents and enterprises in their own countries.

The main purpose is to crack down on money laundering, terrorist financing, corruption, tax evasion and other criminal activities, but it will also hit many investors who want to buy a house overseas, because it will be more complicated for them to transfer their money abroad. ...

In fact, the last chance left for China people to buy a house overseas with a credit card will also be closed. On June 1 day, International UnionPay will close the overseas credit card purchase channel in Cyprus (a popular place to buy houses overseas in China).

From now on, if China people want to buy a house or make other investments abroad, the procedures will be more complicated as long as the funds are involved in leaving the country. If they violate the regulations, they will be banned from leaving the country for three years and whether they are involved in "money laundering" will be investigated.

The central bank has done a good job in this matter. In fact, CRS is an exchange mechanism. It is not that some people say that the state wants to crack down on the "rich". The duty to pay taxes on the overseas income of the "rich" has always existed in China. Whether the "rich" have fulfilled their tax obligations is the question that should be considered at present.

Please ask these rich people to return to the legal system, look at the allocation of global financial assets rationally and objectively, treat tax obligations correctly, and don't be too scared, blindly correct or take chances.

At present, CRS agreements have been signed by 10 1 countries and regions, including Canada, China, Hong Kong and Macau, and even many regions that traditionally regard offshore financial companies as "tax havens" such as the Virgin Islands, including Switzerland, where banking is famous for its customer confidentiality.

Next, all departments of the central bank will speed up the formulation of bitcoin management measures to prevent bitcoin from becoming a regulatory loophole. Some enterprises and individuals also use leveraged financing to buy bitcoin, and then realize a wider range of illegal transfer of funds through domestic purchase and overseas sale.

In terms of employing people, many big officials, small officials, big rich people and small rich people are illegally transferring funds abroad. While desperately hollowing out China, they left a serious real estate bubble and inflation to the helpless people of Qian Qian. Even ordinary people who don't know much about finance can realize the seriousness of this problem.

From 2000 to 20 1 1 year, * * about $3.75 trillion in illegal cash flow flowed out of China, and a considerable part of it was corruption income. CRS is a good thing, but it comes a little late. I hope that corrupt officials have nowhere to hide their dirty money, which will really make people happy!