Some of China's wealthiest individuals are winding down offshore trusts, selling shares and even changing nationality as they scramble to assess tax liabilities ahead of a deadline to declare income earned overseas, wealth advisers, lawyers and people familiar with the matter told Reuters.
The move comes as Beijing intensifies its scrutiny of capital outflows and tax compliance amid mounting fiscal pressures, persistent weakness in domestic demand and broader economic imbalances in the world's second-largest economy, according to the report by Reuters.
