Recently Fan Bingbing, that household name in Chinese world, was reputedly detained mostly due to her tax problems and other fradulent issues.  That may be a relatively small sign which can indicate a great trend: the rampant illegal tax avoidance in China Mainland. 

This morning my wife told me that China Mainland had joined an international tax agreement with nearly 100 countries: CRS; so I checked the news online and found the abbreviation stands for Common Reporting Standard.  According to the agreement, the signatories are obliged to report the monetary movements pertaining to foreign citizens in their local financial institutions to the signatory where those people are its expatriates. 

There have been a lot of nouveau riches emerging in China Mainland since Reform and Open.  Out of human nature, most of those people must try their best to avoid taxation as possible as they can, by hiring most capable CPAs to do the jobs for them, including to find tax loopholes to pay less and so retain more.  Finding a "tax paradise" abroad is an often seen method.  Now CRS might be an effective way to put an end to such a leak.

America did not join CRS, for it already had 肥咖條款(FACAC) itself several years ago.  FYI, in America IRS(Internal Revenue Service) is the most dreadful bureau for taxpayers.  IRS is even much tougher than the notorious bureau like FBI or CIA.  As an American proverb said,: people have to face two things which are inevitable, death and tax.