GoKunming Forums

expats paying taxes....

goldie122 (645 posts) • 0

I can't think of any personal information that I gave the bank when I opened an account other than my passport, but my passport number has since changed after receiving a new one. I'm sure it can be cross-referenced somewhere but unlikely. They don't have my SS number and I don't have a US account anymore.

@AlPage48... I highly doubt it is a pretty simple task to strip out all American accts, etc., since doing almost anything out of the ordinary in a bank in China often turns into a prolonged arduous day long event. But I see your point.

I know all Americans, including me, should be paying. I guess I'm just willing to take my chances spreading my money out in different banks. Besides... what are they going to do if I never go back there? They can't take my money if I'm not there.

Tonyaod (824 posts) • 0

@goldie122...in case you forgot, your passport is tied to your SSN, whenever you apply for a new passport at the consulate, you have to supply your SSN.

And not to give you something to worry about, but remember your passport is only valid for 10 years, what would happen when you re-apply and they decline to give you a new one, how can you continue to stay abroad?

tigertiger - moderator (5084 posts) • 0

If you are working here legally, the labor office knows what you are earning, in theory. If you are eligible to pay tax you will. If there is a reciprocal double tax arrangement, it is likely the Chinese tax office will share records with the IRS.

goldie122 (645 posts) • 0

Good point, Tonyaod. I just don't see them denying me a passport on the basis of me not having filed taxes. I mean have you ever heard of such a thing?

Alien (3819 posts) • 0

My thought is that passport refusal to US citizens is very unlikely unless you're really rich, and even then it would probably depend on the country you are living in, in terms of deportation. And citizenship is variable, obviously.

laofengzi (376 posts) • 0

Try to go open a new account as an American at BoC or other main branches. There's a new system in place. Trying being on a tourist visa, student visa, and getting more than 10k rmb transfered from a chinese bank account every month and go back to the US. enjoy :D.

@Tigertiger all deposites and xfers are recorded now. also chinese are getting denied on the 50k transfers to USD bank accounts. Also transfering more than 50k to a chinese account you have to prove the account is registered to a foreigner.

laofengzi (376 posts) • 0

FATCA - sorry not new. Just finally hitting small town china.

The new forms have American - Check yes or No on them. Check yes its a bit of 麻烦哦

Xiefei (532 posts) • 0

@goldie122:

"I just don't see them denying me a passport on the basis of me not having filed taxes. I mean have you ever heard of such a thing?"

A new law was passed recently authorizing exactly that. No one is sure how it will be implemented now.

"Unless you have hundreds of thousands of dollars, FATCA doesn't really apply."

Personal FATCA filing begins at US$50,000 in any and all overseas assets. That includes cash, but also mortgages and stakes in companies, even if your personal stake in them is below that threshold. Banks are supposed to start reporting your info at much lower amounts.

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