How China tax crackdown on undeclared overseas income is targeting retail investors

When a friend received a text message from the mainland Chinese tax authorities asking her to ensure that all her declared income – including income from abroad – was accurate, Fan, a finance professional who asked that her full name not be used, was shocked. Her friend was now coordinating with the authorities to settle the outstanding taxes on her overseas trading, she said, adding that “there is no alternative but to comply” with such texts and that the incident had left her on guard about...