Property News · June 27, 2017

Chinese money floods into Hong Kong property, as Beijing set to check taxpayers’ foreign financial accounts


Wealthy Chinese have been rushing to snap up Hong Kong properties, as Beijing prepares to raise the scrutiny level on its own taxpayers’ overseas assets, from July 1, market observers say.
From that date, China’s top tax authority will start requiring details of any financial assets held within any foreign countries, and the information could be exchanged with the tax authorities in 100 other countries and regions around the world from next year, including Hong Kong.
The spotlight…

Source : South China Morning Post
Read more…Chinese money floods into Hong Kong property, as Beijing set to check taxpayers’ foreign financial accounts

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