China’s Tax Clampdown Brings in $24 Billion from Offshore Trusts
Headline from Bloomberg
China’s ultra-wealthy have declared more than 160 billion yuan ($24 billion) in back taxes tied to offshore trusts, bowing to pressure from authorities increasingly eager to expand the tax dragnet far beyond their national borders.
Bloomberg's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.
China’s ultra-wealthy have declared more than 160 billion yuan ($24 billion) in back taxes tied to offshore trusts, bowing to pressure from authorities increasingly eager to expand the tax dragnet far beyond their national borders.
