China Deploys ‘Big Data’ in Crackdown on Overseas Trading Income

chinese authorities are intensifying efforts to collect taxes from citizens with income derived from overseas investments, as part of a larger strategy to curb cross-border transactions designed to circumvent capital controls. On Tuesday, six local tax bureaus, including those in Beijing and Shenzhen, released similar statements indicating they had “reminded and coached” individuals to report their foreign income and settle any outstanding tax liabilities, utilizing big data analytics to identify these citizens.