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CityPop ( CityPop@lemmy.today )  to World News@quokk.au · 2 months ago

China's super-rich 'in shock' and hunting for cash as Beijing issues surprise tax on offshore trusts

www.cnbc.com

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China's super-rich 'in shock' and hunting for cash as Beijing issues surprise tax on offshore trusts

www.cnbc.com

CityPop ( CityPop@lemmy.today )  to World News@quokk.au · 2 months ago
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Beijing's move to tax offshore trusts, long used by China's ultra-rich to hold money, has set off a rush to lawyers and a scramble for cash.
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  • Luminous5481 "Enemy of the State" ( Luminous5481@anarchist.nexus ) 
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    2 months ago

    oh no haha those poor rich people what will they do lmao

    • PRIMEcavitationfetishist ( PRIMEcavitationfetishist@quokk.au ) 
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      2 months ago

      Are they? People? I’ve met their american and European counterparts, and they definitely aren’t.

  • Maeve ( Maeve@kbin.earth ) 
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    2 months ago

    I’m not even sure if this is true as reported (worded), but it gives me even more respect for President Xi and the CPC than I already had.

    • NaibofTabr ( NaibofTabr@infosec.pub ) 
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      2 months ago

      How Corruption and Oligarchy Work in China

      This isn’t socialism at work, it’s the mob boss extracting his cut of the profits.

      • Maeve ( Maeve@kbin.earth ) 
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        2 months ago

        Do you actually read anything from China that’s not from the poor, oppressed wealthier?

        • 𝙈𝙞𝙖 ( Quokka@quokk.au ) 
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          2 months ago

          Got any recommendations for small scale journalism from China?

          Love to read something like a Chinese Michael West Media.

  • lucywillard ( lucywillard@beehaw.org ) 
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    1 month ago

    The introduction of a tax on offshore assets forces businesses and individuals to urgently restructure assets and look for new ways of tax optimization. 1800Accountant reviews help to ensure proper accounting and minimize financial risks. Service experts provide professional advice on tax planning, reporting and auditing for the stable operation of your capital. Entrust finances to specialists to always stay in the legal field and protect your funds.

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