In the News: China Urges Overseas Tax Reporting; Mainland Firms Face Higher Hong Kong Listing Bar; and Sony Joint Venture

China intensifies efforts to encourage reporting of overseas income | CSRC considers RMB 30 billion market cap floor for H-share listings | Sony to spin off TV business as a joint venture with China’s TCL.

By Jeffrey Tse

In the News: China Urges Overseas Tax Reporting; Mainland Firms Face Higher Hong Kong Listing Bar; and Sony Joint Venture

China Urges Residents to Declare Overseas Income

China’s tax officials have boosted efforts to urge residents to declare overseas income and pay tax on it, China Daily reports.

Chinese residents are legally required to “declare and pay taxes on income earned both domestically and abroad.

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