TechFlow reports, on January 16, according to Xinhua News Agency, from relevant departments of the State Taxation Administration, tax authorities continue to strengthen publicity and guidance on individual residents' taxation of overseas income. Since last year, taxpayers have been reminded to conduct self-inspections regarding income earned abroad from 2022 to 2024. According to laws and regulations such as the Tax Collection and Administration Law, if underpayment or non-payment of taxes results from a taxpayer's failure to file a tax return or calculation errors, tax authorities may pursue tax recovery and late payment penalties within three years; cases constituting tax evasion will be handled according to law. Paying individual income tax on income earned both domestically and overseas is an internationally accepted practice, which helps prevent cross-border tax avoidance and protects national tax rights and interests. Tax authorities remind the public that paying taxes legally is an obligation for every citizen. Taxpayers who realize they previously failed to report overseas income in accordance with regulations must correct and file their declarations promptly. (Jinshi Data)
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