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 …
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.…
