Beijing says 20% offshore insurance tax not new – and does not target Hong Kong
- Source
- South China Morning Post - Business
- Source link
- https://www.scmp.com/business/banking-finance/article/3363348/beijing-says-20-offshore-insurance-tax-not-new-and-does-not-target-hong-kong?utm_source=rss_feed
- Published
- 2026-08-07 12:23:55
- Discovered by ProcIntel
- 2026-08-07 12:29:36
- Category
- Procurement & Supply Chain News
- Geography
- China
- Organisations
- —
- Review status
- Pending
- Record type
- REAL
Summary
China’s State Taxation Administration (STA) on Friday clarified that the 20 per cent personal income tax imposed on gains from offshore insurance policies was not a new policy – and was not specifically targeting the Hong Kong insurance industry. The STA urged the market not to overreact to the policy, according to an unnamed official quoted by Shanghai-based digital media outlet The Paper on Friday. The comments came a day after the share prices of several major Hong Kong-listed financial firms...
Procurement Relevance Gate
- geographic_exposure (weight 8) — matched on "1 linked geography"
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