HONG KONG -- China is prodding its citizens to pay taxes on overseas investment gains, as authorities harness the power of big data to close gaps in enforcement.
Individuals profiting from a range of financial investments offshore -- including insurance policies, family trusts and foreign stock trading -- are receiving texts and notices from local tax offices asking them to conduct self-assessments on overseas capital gains over the past two years and settle any unpaid amount, multiple people familiar with the matter told Nikkei Asia.
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