Trading Hong Kong and US stocks incurs a 20% tax? This year's notices for back taxes have been frequent, but taxing overseas income is not a sudden change in the legal aspect.

Since March of this year, many Chinese residents who have invested in Hong Kong and US stocks have received notices from their local tax authorities, prompting them to self-check their domestic and overseas income and promptly file tax returns. On social media platforms, some taxpayers have posted to share that they have already completed the payment of personal income tax at a rate of 20% on cross-border investment income before June 30th. Global taxation in China has always had a legal basis. However, it is understood that compared to previous years, this year's tax and supplementary tax notices are more frequent and cover a larger area, with notifications sent in various forms such as text messages and phone calls.