BEIJING’S OFFSHORE INSURANCE TAX TESTS HONG KONG WEALTH MANAGEMENT

Financial markets have been gripped by concern in recent days over reports that China was introducing a new tax on returns from offshore insurance policies. The significance of the episode could prove more complex than the initial market reaction suggests.

News - South China Morning Post reports that financial markets have been gripped by concern in recent days over reports that China was introducing a new tax on returns from offshore insurance policies.

The report adds: The significance of the episode could prove more complex than the initial market reaction suggests.

According to a report from Caixin, Chinese tax authorities have sought to collect tax on investment returns generated by offshore insurance policies held by mainland residents, with early enforcement cases reportedly…

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