China's tax revenue from the United States: Why should we emigrate overseas?

◆ The following contents are collected for your reference! !

Taxation has always been a headache for people with high assets. Why do you want to emigrate? Now let's look at this problem from the perspective of taxation. First of all, let's take a look at some actions of the United States in taxation in recent years!

20 1 1 According to the voluntary declaration scheme for overseas assets promulgated by the IRS, financial accounts owned by Americans overseas must be declared if their assets exceed 1 10,000 USD, even if they do not generate any taxable income. If there is an overdue declaration, overseas financial assets below $700,000 will face a fine of 5% to 12.5%. For assets exceeding $700,000, the fine will be increased to 25%, and even half of the assets may be confiscated.

20 1 1 At the end of the year, a notice from the US government stirred the hearts of immigrants and prospective immigrants in the United States, which once caused panic among investors who immigrated to the United States through investment. According to the Detailed Rules for the Implementation of the Foreign Account Tax Compliance Act promulgated by the US Internal Revenue Service, American citizens or American green card holders who live in the United States and have overseas assets of more than $50,000, or American citizens or American green card holders who live outside the United States and have overseas assets of more than $200,000, must report to the government before April 20 12. Part of the declaration will be regarded as intentional tax evasion, and once it is found out, it will be fined up to $50,000, and severe cases will be sentenced. This is a tough measure launched by the US government in the face of the persistent impact of the financial crisis. It aims to plug financial loopholes and increase national wealth. Because this "bill" directly involves investors' overseas assets, people are worried that the declaration of their overseas assets will trigger a substantial increase in overseas assets tax.

In addition, the U.S. government also stipulates that all foreign banks that want to operate in the U.S. must provide citizens' information with deposits exceeding 50,000 U.S. dollars to the IRS from 20 13 1, otherwise they will be regarded as not cooperating with the U.S. government. For uncooperative banking institutions, if they have income from American sources, the United States will impose a punitive tax of 30% on their total income. Faced with the new sunshine real estate policy of the US government, many newly rich people in China who already hold green cards may give up their American citizenship or green cards.

China and the United States signed the Agreement for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion on Income. According to the agreement, China citizens holding green cards can be exempted from the corresponding tax obligation if they have already paid taxes in China according to the China tax rate. However, due to the different policies of the two countries, green card holders may face the situation that both China and the United States need to file tax returns, and even both countries need to pay taxes. China began to collect China's overseas income tax, should it also pay double tax?

Why do you want to emigrate? From 20 1 1 to 20 13, the United States stepped up its tax policy step by step in just two years. When everyone is pouring into the United States, these people are also "quietly" giving up their ignorant identity. According to statistics, since the United States began to tax the overseas income of citizens or permanent residents, the number of people who gave up American citizenship or permanent resident status has soared. According to the records of the Internal Revenue Service (IRS), nearly 65,438+0,800 people gave up their American citizenship or green cards last year alone.

So what policy is China adopting?

Housing purchase restriction order

On April 30th, 20 10, Beijing issued the detailed rules for the implementation of "National Ten Articles", which took the lead in stipulating that "every family can only buy one set of newly-built commercial housing".

20 10 After the promulgation of the "National Five Articles" on September 29th, Shanghai, Guangzhou, Tianjin, Nanjing and Hangzhou, a total of 16 first-and second-tier cities issued purchase restriction policies.

As of February 20 1 1, 36 cities have proposed purchase restrictions; The new round of housing purchase restriction cities will double to 72, with the aim of curbing housing prices. What is the result? See * * *!

On 2011August 17, the Ministry of Housing and Urban-Rural Development issued the purchase restriction standards for second-and third-tier cities;

20111February, the Ministry of Housing and Urban-Rural Development informed the local government that the local government should continue to implement the purchase restriction policy for cities whose purchase restriction policy will expire at the end of 20 1 10.

Guowutiao

20 13 five policies and measures to strengthen the regulation of the real estate market determined by the the State Council executive meeting on February 20th. Strict implementation of commercial housing purchase restrictions. Municipalities directly under the central government, cities with separate plans and provincial capitals that have implemented purchase restriction measures should improve the purchase restriction measures in accordance with unified requirements in terms of purchase restriction areas, types of houses to be restricted, and qualification examination for purchasing houses.

The most interesting thing is that 20% of the income from the transfer of housing is subject to personal income tax.

The purchase restriction policy was withdrawn and replaced by tax means.

Before 20 13, 12 and 3 1, all cities and towns in China must enter their paper real estate files into the electronic information database and establish a local housing information system;

Before 20 13, 12, and 3 1, the housing information systems of all cities at or above the prefecture level in China must be connected with the Ministry of Housing and Urban-Rural Development, and shall not be extended under any pretext;

Before 20 14, 12, and 3 1, the housing information systems of cities all over the country must be networked with the Ministry of Housing and Urban-Rural Development, and no extension is allowed under any pretext;

From 2065438+65438+1 October1day in 2004, the housing purchase restriction policy in all cities (towns) in China was stopped;

From 2065438+65438+ 10 +0, 65438 in 2004, the property tax will be levied in cities where the national housing information has been networked.

From 20 15 and 1, whether to levy property tax on urban houses shall be stipulated by the provincial people's government.

Measures for the declaration of balance of payments statistics

Real estate registration is a killer weapon, because 50%-70% of China families' wealth is reflected in real estate. Many rich people are worried that it is not safe to put eggs in one basket. Ten years ago, they all played this game. Now this trend has spread to the whole affluent class.

20 13 1 1.9 Amend the Decision of the State Council on Amending the Measures for Reporting Balance of Payments Statistics. The decision shall be implemented as of 20 14 10 1.

As long as the Chinese people's money is registered, whether at home or overseas; If you transfer your money overseas, you will earn and lose, and pay taxes at home after dividends; Learn from the United States and gradually improve the tax system at home and abroad.

Why do you want to emigrate? In fact, taxation is only one aspect. Immigrants should comprehensively consider their own actual situation and choose the most suitable immigration project.