The Zhitong Finance App learned that on November 13, the Ministry of Finance issued a question and answer on the personal income tax policy for offshore trusts. Among them, with regard to the determination of the market value of shares of unlisted companies into offshore trusts, the Ministry of Finance stated that before the “Notice” was issued, individuals placed unlisted company shares in offshore trusts. The market value of unlisted company shares can be determined in accordance with the Net Asset Verification Law, and its market value cannot be lower than the net asset share corresponding to the equity. After paying personal income tax during the loading process, the original value of the property is adjusted to the market value determined during the loading process. When an offshore trust actually transfers shares, personal income tax is calculated and paid based on the balance of the income after deducting the original value of the property and reasonable expenses.

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