Tax Administration Reminds Offshore Trust Taxpayers to Complete Individual Income Tax Filing by October 22

PANews, October 20 – According to the official website of the State Taxation Administration, the tax authority has issued a reminder urging offshore trust taxpayers to declare and pay individual income tax on offshore trust income before the end of the transition period on October 22. Those who complete filing and payment within the transition period will not be charged late payment surcharges. Under 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 are required to declare and pay tax on offshore trust income. The Announcement grants taxpayers a 90-day transition period. The tax authority stated that it will provide tax guidance and tax services to taxpayers.