I have given this wave of events a new name: (Tax Return Boomerang)

In the past, everyone's logic was simple
Money overseas meant safety
Hong Kong cards, Singapore accounts, US and Hong Kong stocks, just set up the structure and you're fine.
But once CRS was implemented, the boomerang came flying back.
First knocking on doors in Beijing and Shanghai, now they’re not letting even under twenty thousand USD go.
It's not that you earn more, but that the system finally notices you.
The biggest pain isn't paying back taxes, but the time cost.
Starting from 2023, a daily late fee of 0.05%, with an annualized rate close to 18%.
You think you're delaying, but actually you're being slowly drained by interest.
Hong Kong cards are no longer a talisman; Singapore and Japan are now on the list.
The US now appears safe, but it's just delaying settlement.
FATCA is like CRS in line—inevitable sooner or later.
So what everyone is anxious about now isn't whether to pay taxes, but that they suddenly realize the old information asymmetry benefits have ended.
This is the essence of the tax return boomerang.
It's not policy getting harsher,
It's that the era now requires you to take responsibility for all your assets. #欧美关税风波冲击市场