Hmm. Not sure if it is in practice. In 2020 I was technically a Chinese tax resident, so my US income on the 1042-S was taxed at 30%. In 2021 I was technically a Australian tax resident, my 1042-S US income was taxed at 15%. Both China and Australia have tax agreements with the US but kind of complicated...
I don't think the US knows what you make in China, that was one of the road blocks I believe, the data sharing.
Yup, but US doesn't want to share it with China. That is probably the reason why China wants all their actors/media stars to declare their citizenship status to facilitate these kind of stuff. This is also the reason why I won't ever acquire US citizenship lol.Mostly agree. The rate set in the agreement is too complicated to be discussed here.
But if you're a US citizen hiding income in China, IRS will be able to find out if they want to get on your case, like the professors from Harvard and MIT that accused of failing to report their China earnings. China has no issues with sharing US citizens' earnings data with IRS at their request.
Yup, but US doesn't want to share it with China. That is probably the reason why China wants all their actors/media stars to declare their citizenship status to facilitate these kind of stuff. This is also the reason why I won't ever acquire US citizenship lol.
I wonder how much cut would IRS take from Eileen Gu's sponsorship deals?
That Huang? LOL!
It is true that your friend's kid can get a travel document of 2 years instead of usual passport of longer expiration. I am not disputing this fact. However, technically the children have to be born before she obtained green card. It is true that the Chinese government wouldn't strictly enforce the nationality law. However, it doesn't mean that it is legal. We have many high profile people who were found out to have foreign passports were stripped of their Chinese citizenship and kicked out of China. So the only legal way to have dual citizenship is to be born or obtain the citizenship in Hong Kong and moved to other countries.Hmm, my friend's kid was born around the time his wife got residency visa, the kid has both passport and was told they can chose to keep the Chinese one or give it up when they turn 18 (or 12 I can't remember). They only said they wouldn't recognize the other passport. I had some professional advice regarding this 2 years ago when shopping around for a nationality for my kid. It was pre Covid and there was quite a few locations he could have been born at. I remember the advice we got if he was born in China was that he wouldn't be forced to give up the other passport, but it wouldn't be recognized. Thats why we settled for a HK SAR passport lol..
Except for the high profile people like Eileen Gu, for the most of us, the only problem with this arrangement is double taxation. US taxes you on everything you make globally, I think China does too after the recent tax reforms. Imagine getting wacked twice. There are of course work arounds but yeah, plenty of ways both sides will make your life miserable..
Lol the idiocy. They finally get to see a working Covid response first hand, and what is their response? Let's never do it again.Beijing Olympics' COVID measures worked, but at a massive cost
At whut m8
Lol the idiocy. They finally get to see a working Covid response first hand, and what is their response? Let's never do it again.
I swear these people are trying to collapse themselves; there is no hope for them.
Yup! However, for me the best message she brings is, when she is in China, she feels Chinese; when she is in America, she feels American. Taking away all the geopolitical crap, I think this is the mentality all of the overseas Chinese should have. We need to be proud of our heritage, but also we need to appreciate the land that raised us. Which ever one we chose to represent should be down to the individual, but being given the option to embrace both and contribute positively to both should be encouraged, and we shouldn't be forced to chose sides. As long as China demonstrate it on its side, then there will be many people flocking back, regardless of what the other government does. (Kinda like the guy in warring states buying the horse skelton to attract talents.)It is true that your friend's kid can get a travel document of 2 years instead of usual passport of longer expiration. I am not disputing this fact. However, technically the children have to be born before she obtained green card. It is true that the Chinese government wouldn't strictly enforce the nationality law. However, it doesn't mean that it is legal. We have many high profile people who were found out to have foreign passports were stripped of their Chinese citizenship and kicked out of China. So the only legal way to have dual citizenship is to be born or obtain the citizenship in Hong Kong and moved to other countries.
I am not disputing that most people got away with dual citizenships. However, we also have people who traveled to China with foreign passports and got their Chinese citizenship stripped. That's why for people who are cautious, they would enter China from a third country so that the Chinese government can't find out. There are also a lot of ways to get around all of the restrictions that the Chinese government impose.
Anyway, for famous people such as Eileen Gu, it is impossible to hide the fact. So unless the Chinese government is willing to bend the rules, she has to make up her mind in the near future. That's why we have the GT to write an article about this and ask people to tone down the discussions.
In the end of the day, Eileen Gu won two golds and one silver for China. And that is what that matters.