中国官员将开始对居民纳税人从海外信托获得的收益征收20%的税款，相关收入的接收者必须在10月22日之前申报并缴纳税款以免受处罚。此举标志著中国企业家多年来透过将国内业务在海外上市并将巨额财富留存于离岸市场以避税的策略已不再可行。根据彭博亿万富翁指数，全球最富有的500人中有8人及其受益人可能受到影响，他们透过设于英属维京群岛和开曼群岛等避税天堂的离岸信托持有主要业务位于中国的上市公司股份，资产总计约1402亿美元，其中包括网易的丁磊和拼多多的黄峥。

这波征税行动是中国国家主席习近平「共同富裕」运动的延伸，同时也是为了应对长期房地产低迷对地方政府财政造成的沉重打击，促使地方与中央政府寻求优化收入来源并将离岸财富作为渠道之一。由于许多海外财富是在企业赴美或赴港上市前积累，上市后的巨额增值使得历史悠久的信托受到更严重的冲击。目前财富顾问与律师正协助富裕家族追溯离岸结构的历史并计算收益，部分家族正考虑简化、重组或解除某些海外财务安排，也有更多家族办公室在今年成立。

尽管这8位亿万富翁尚未公开表态如何应对，但海底捞和看准网等公司的创始人已抛售总计数亿美元的股票以筹集资金缴税。虽然新规定能为中国政府国库增加多少收入尚不确定，且富豪们仍有协商最终税单的空间，但几乎没有人能完全逃避缴税。即使已取得外国护照，只要大部分收入来自中国仍须纳税，且当局能透过公开的首次公开募股文件或收购公告推算出应缴税额，让富豪们意识到无法逃避并开始准备付款及研究相关抵扣细节。

Chinese officials will begin enforcing a 20% tax on gains from overseas trusts for resident taxpayers, requiring recipients of such income to report and pay their obligations by October 22 to avoid penalties. This move ends a long-standing strategy where Chinese entrepreneurs built businesses domestically, listed them on global exchanges, and kept billions offshore to shield their wealth from taxation. According to the Bloomberg Billionaires Index, eight of the world's 500 richest people and their beneficiaries may be impacted, as they hold listed stakes totaling about $140.2 billion in companies with major Chinese operations through offshore trusts in tax havens like the British Virgin Islands and Cayman Islands, including NetEase's William Ding and PDD's Colin Huang.

The tax collection drive extends Chinese President Xi Jinping's campaign for common prosperity and comes as a prolonged property slump severely impacts local government finances, prompting authorities at both local and central levels to optimize revenue streams by exploring offshore wealth. Because much of this overseas wealth accumulated before initial public offerings in the US or Hong Kong, massive post-listing appreciation makes older trusts particularly vulnerable to the tax enforcement. Wealth advisers and lawyers are now helping affluent families trace the history of their offshore structures and calculate gains since inception, with some families looking to simplify, restructure, or unwind arrangements while setting up more family offices this year.

While none of the eight highlighted billionaires have publicly stated how they will respond, founders of other companies like Haidilao International Holding Ltd. and Kanzhun Ltd. have already sold hundreds of millions of dollars in shares to raise cash for tax payments. Although the exact revenue boost for China's government coffers remains uncertain and room for negotiation exists, wealthy individuals are unlikely to avoid paying altogether. The tax rules apply even to those with foreign passports if they derive significant revenue from China, and since authorities can triangulate tax obligations using public IPO documents and acquisition announcements, clients have realized they cannot escape the mandate and have begun preparing payments and examining potential deductions. (Key numbers: 8)