Over the last 10 years, I and my team have been offering legal services related to inheritance and estate planning for clients from many other countries outside of China. We have written a number of posts on this blog in that regard.
As per request from an American lawyer, Ms. Jiah Kim, who specializes in cross-border estate planning catering to her American clients,…
Taxes are one of the major concerns of foreign heirs inheriting estates located in China. What taxes are levied on the estates or the inheritance? Is there any way of optimizing taxes in China on acquiring and cashing in on the estate assets?
I. Taxes for Inheritance of Estates
(1) No Estate Tax or Inheritance Tax in China
In today’s world, many countries…
At the end of last month, in response to an inquiry by a member from National Committee of Chinese People’s Political Consultative Conferrence, China State Administration of Taxes published on its website its reply. It said:
(1) China has not levied inheritance taxes so far, and has never published any regulation on this or even any draft regulation on inheritance…
Many foreigners are concerned with China estate taxes when they inherit estates in China.
As a matter of Law, China has not formally enacted estate tax laws despite rumor about it for many years. I personally don’t foresee this enactment any time soon. After all, without this law, Chinese rich people are already fleeing this country for various reasons.…
