A resident in Sichuan, identified as Li, has paid a total of 665.9 million yuan in back taxes and late fees after failing to report foreign income. The Sichuan tax authorities discovered the discrepancy through tax data analysis. Following guidance and policy advice, Li completed the necessary declarations and payments.
Authorities remind residents that foreign income must be declared between March 1 and June 30 of the following year. Failure to report or misreporting is illegal and can result in additional taxes, late fees, and potentially severe consequences, including investigations and public exposure.
Sichuan Resident Pays $665,900 in Back Taxes for Unreported Foreign Income
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
