China's New Rules Tax Offshore Trusts at 20% — Pan Shiyi's Cayman Trust Becomes Focal Point

Foreign Media: China's new regulations impose a flat 20% tax on offshore trusts, making Pan Shiyi's Cayman Islands trust a focal point.

Previously, laws only required individuals holding offshore trusts to pay taxes, but lacked detailed implementation rules. The new regulations fill this gap, triggering tax obligations at the moment capital is transferred into an offshore trust, covering assets such as stocks, bonds, and real estate.

Pan Shiyi and his wife Zhang Xin founded SOHO China in 1995. Between 2014 and 2019, they sold off related assets in Beijing and Shanghai ahead of schedule. After the failed Blackstone privatization deal in 2021, they moved to the United States.

Original article: toutiao.com/article/1872589219841036/

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