PANews October 20 news: According to the official website of the State Taxation Administration, the STA has issued a reminder urging offshore trust taxpayers to declare and pay individual income tax on offshore trust income before the transition period ends on October 22. Those who complete declaration and payment during the transition period will not be charged late fees. According to the Announcement on Matters Concerning Individual Income Tax on Offshore Trusts (No. 21 of 2026) issued by the Ministry of Finance and the State Taxation Administration on July 24, offshore trust taxpayers must declare and pay tax on offshore trust income. The Announcement gave taxpayers a 90-day transition period. Tax authorities stated that they will provide tax guidance and tax filing services to taxpayers.
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