Tax authorities remind taxpayers to conduct self-inspection of overseas income from the past three years

Odaily News According to information obtained from relevant departments of the State Taxation Administration, tax authorities have continued to strengthen publicity and guidance regarding the taxation of overseas income for resident individuals. Since last year, they have reminded taxpayers to conduct self-inspections of income earned abroad from 2022 to 2024. In accordance with laws and regulations such as the Tax Collection and Administration Law, if a taxpayer fails to file a tax return or makes calculation errors resulting in non-payment or underpayment of taxes, the tax authority may pursue the collection of taxes and late payment surcharges within three years; if tax evasion is constituted, legal action will be taken accordingly. It is an internationally common practice for resident individuals to pay personal income tax on income earned both domestically and abroad, which helps prevent cross-border tax avoidance and safeguards national tax rights and interests. The tax department reminds that paying taxes in accordance with the law is the duty of every citizen. If taxpayers discover that they have previously failed to declare overseas income as required, they should promptly correct and file the declaration in accordance with the law. (Jin10)