[The State Administration of Taxation issued a reminder on the tax declaration of offshore trusts] It was learned from the State Administration of Taxation that the State Administration of Taxation’s website issued a reminder on the same day to remind relevant taxpayers to sort out their offshore trust situations as soon as possible, declare taxes in accordance with the law during the transition period, and avoid late payment fees and other related risks. According to the "Announcement on Matters Related to Personal Income Tax on Offshore Trusts" issued by the Ministry of Finance and the State Administration of Taxation on July 24, offshore trust taxpayers need to declare and pay personal income tax on offshore trust income. The announcement gives taxpayers a 90-day transition period. During the transition period (before October 22), no late payment fees will be charged if they complete their tax declarations and payments. This reminder makes it clear that the tax department will provide taxpayers with detailed tax guidance and tax handling services to help taxpayers fulfill their tax obligations and safeguard their own rights and interests in accordance with the law. (Xinhua News Agency)