What is the declaration document of individual tax resident status? Must I deal with it? The bank called and said it was urgent. Will there be tax?

The declaration form of individual tax resident status is an important certificate to prove whether the account holder pays taxes according to law. From July 1 2007, when an individual opens an account in a financial institution, the financial institution shall obtain the declaration document of tax resident status signed by the account holder to identify whether the account holder is a non-resident individual.

China Tax Resident Identity Certificate is the core certificate for China tax residents to enjoy the treatment of tax agreements signed between the China government and the contracting government. As long as it meets the relevant standards of the tax law and tax treaties, and the corresponding taxable behavior occurs in the contracting state that has signed a tax treaty with our government, it can obtain the identity certificate after applying to the competent tax department, and then enjoy the relevant tax treaties. Eligible foreign enterprises or individuals can also apply.

I. Business Overview

In order to assist China resident enterprises and individuals to invest, operate and provide labor services abroad and enjoy the treatment of tax agreements signed by the China government, at the request of taxpayers, the China Tax Resident Identity Certificate is issued.

Residents who meet the relevant tax laws of People's Republic of China (PRC) and the double taxation avoidance agreement signed between People's Republic of China (PRC) and China governments refer to:

(1) If the applicant is an individual, according to the relevant provisions of the Individual Income Tax Law of People's Republic of China (PRC), an individual who has a domicile or has no domicile in China but has lived in China for one year shall pay individual income tax in China on his income obtained from China and abroad; Among them: individuals with domicile refer to individuals who habitually live in China due to household registration, family and economic interests; Individuals who have no domicile but have lived in China for one year refer to individuals who meet the provisions of Article 3 of the Regulations for the Implementation of the Individual Income Tax Law of the People's Republic of China.

If the above-mentioned individuals have no domicile but have lived in China for more than 1 year, when applying for resident status, they shall also submit relevant proof materials of their actual residence in China.

(2) If the applicant is an enterprise, according to the relevant provisions of the Enterprise Income Tax Law of People's Republic of China (PRC), the applicant is an enterprise established or actually managed within the territory of China. Where the domestic and overseas branches of China resident companies require the issuance of China tax resident identity documents, their head offices shall apply to the local tax authorities.