{"id":17828,"date":"2026-09-14T09:36:32","date_gmt":"2026-09-14T01:36:32","guid":{"rendered":"https:\/\/www.qicaiying.cn\/archives\/17828"},"modified":"2026-09-14T09:37:30","modified_gmt":"2026-09-14T01:37:30","slug":"%e6%b8%af%e7%be%8e%e8%82%a1%e6%94%b6%e7%9b%8a%e8%a6%81%e4%ba%a420%e7%a8%8e%ef%bc%9f2026%e5%b9%b4%e6%80%8e%e4%b9%88%e5%90%88%e8%a7%84%e7%94%b3%e6%8a%a5%ef%bc%9f","status":"publish","type":"post","link":"https:\/\/www.qicaiying.cn\/en\/archives\/17828","title":{"rendered":"Are Hong Kong and U.S. stock investment gains subject to the 20% tax? How should I file a compliant tax return in 2026?"},"content":{"rendered":"<div style=\"max-width:677px;margin:0 auto;padding:20px 16px;font-family:-apple-system,BlinkMacSystemFont,'Segoe UI','Helvetica Neue',sans-serif;font-size:17px;line-height:1.75;letter-spacing:0.544px;color:rgb(15,17,21);background:#fff;text-align:justify;\">\n<p style=\"text-align:center;margin-bottom:50px;\"><img decoding=\"async\" src=\"https:\/\/qcyboss.oss-cn-shenzhen.aliyuncs.com\/wp-content\/uploads\/2026\/07\/20260714105806531.gif?wx_fmt=gif&#038;from=appmsg\" style=\"max-width:100%;border-radius:8px;\" \/><\/p>\n<p style=\"margin:0 0 16px;\">Lin, who trades Hong Kong and U.S. stocks, received a notice from the tax authorities in 2026 stating that he must report his overseas investment income. He was baffled\u2014if he made a profit on U.S. stocks, did he actually have to pay taxes to both the U.S. and China?<\/p>\n<p style=\"margin:0 0 16px;\">He found that: capital gains from Hong Kong Stock Connect transactions are temporarily exempt from individual income tax through the end of 2027, but investors who open direct accounts for U.S. stocks must file their own tax returns; under the U.S.-China agreement, withholding tax on U.S. stock dividends can be reduced to 10% by filing Form W-8BEN.<\/p>\n<p style=\"margin:0 0 16px;\">This article provides a comprehensive overview of the latest tax rules, reporting requirements, and compliance pathways for Hong Kong and U.S. stocks. It is recommended reading for investors with overseas accounts.<\/p>\n<p style=\"text-align:center;font-size:52px;font-weight:700;color:#fff;-webkit-text-stroke:2px #1a3a6b;margin:60px 0 0;line-height:1.1;text-shadow:0 0 1px #1a3a6b;\">01<\/p>\n<p style=\"text-align:center;font-size:20px;font-weight:700;color:#1a3a6b;margin:12px 0 30px;\">What Is the Tax Difference Between Hong Kong and U.S. Stocks?<\/p>\n<p style=\"margin:0 0 16px;\">Hong Kong Stocks: Through the Stock Connect program, capital gains are temporarily exempt from individual income tax until December 31, 2027; regarding dividends, H-shares are subject to withholding tax at a rate of approximately 20.1%, and non-H-shares are also subject to a rate of approximately 20.1%. There is no capital gains tax in Hong Kong, but Mainland residents are required to report their worldwide income.<\/p>\n<p style=\"margin:0 0 16px;\">U.S. Stocks: Under the U.S.-China Tax Treaty, capital gains on U.S. stocks earned by Chinese residents are exempt from U.S. taxes; dividends are subject to a default withholding rate of 30%, which can be reduced to 10% by filing Form W-8BEN. However, for Chinese individual income tax purposes, foreign-source income must be included in the tax return.<\/p>\n<p style=\"margin:0 0 16px;\">In a nutshell: The Hong Kong Stock Connect program exempts investors from the \u201ctrading spread tax\u201d (through 2027), while the W-8BEN form reduces \u201cdividend withholding tax\u201d on U.S. stocks. Neither of these means \u201cpaying nothing at all,\u201d but rather \u201cpaying where it\u2019s due.\u201d<\/p>\n<p style=\"text-align:center;font-size:52px;font-weight:700;color:#fff;-webkit-text-stroke:2px #1a3a6b;margin:60px 0 0;line-height:1.1;text-shadow:0 0 1px #1a3a6b;\">02<\/p>\n<p style=\"text-align:center;font-size:20px;font-weight:700;color:#1a3a6b;margin:12px 0 30px;\">What's Behind the 2026 Tax Back-Payment Wave?<\/p>\n<p style=\"margin:0 0 16px;\">In 2026, notices regarding \u201cback taxes on Hong Kong and U.S. stocks\u201d appeared in many regions: Investment income earned by Chinese residents overseas falls into two categories, both subject to the 20% proportional tax rate\u2014capital gains (differences between buying and selling prices) and dividends. The back taxes primarily cover the three tax years from 2022 to 2024.<\/p>\n<p style=\"margin:0 0 16px;\">Mechanism: The CRS allows Chinese tax authorities to obtain information on residents\u201c offshore financial accounts; the \u201dGolden Tax Phase IV\u201c system tracks capital flows. The tax authorities can determine whether a taxpayer \u201dhas an offshore account,\u201d but cannot determine \u201cwhether it is profitable\u201d; taxpayers are required to self-assess and file their own returns.<\/p>\n<p style=\"margin:0 0 16px;\">Key Point: Capital gains realized through the Stock Connect program are temporarily exempt from taxation, but the income must still be reported during the annual tax settlement; for Hong Kong and U.S. stocks held in directly opened accounts, both capital gains from sales and dividend income must be reported between March and June of the following year.<\/p>\n<p style=\"margin:0 0 16px;\"><strong>If you\u2019re facing a similar situation\u2014trading Hong Kong and U.S. stocks, unsure about the tax implications of the Stock Connect program versus opening a direct account, or worried about potential changes after 2027\u2014we can help you determine your investment channel and filing obligations. Feel free to scan the QR code to contact Qicaiying\u2019s online customer service (WeChat\/Phone: 18620388671), and we\u2019ll help you sort through this entire process from start to finish.<\/strong><\/p>\n<p style=\"text-align:center;margin:30px 0;\"><img decoding=\"async\" src=\"https:\/\/qcyboss.oss-cn-shenzhen.aliyuncs.com\/wp-content\/uploads\/2026\/07\/20260714120111567.png?wx_fmt=png&#038;from=appmsg\" style=\"display:block;margin:0 auto;width:180px;border-radius:8px;\" \/><\/p>\n<p style=\"text-align:center;font-size:13px;color:#999;margin-top:8px;\">Scan the QR code to add Qicaiying\u2019s online customer service<\/p>\n<p style=\"text-align:center;font-size:52px;font-weight:700;color:#fff;-webkit-text-stroke:2px #1a3a6b;margin:60px 0 0;line-height:1.1;text-shadow:0 0 1px #1a3a6b;\">03<\/p>\n<p style=\"text-align:center;font-size:20px;font-weight:700;color:#1a3a6b;margin:12px 0 30px;\">Form W-8BEN and Filing Certificate<\/p>\n<p style=\"margin:0 0 16px;\">U.S. stock investors must submit Form W-8BEN to their brokerage firm to declare their status as Chinese tax residents; this reduces the withholding tax on dividends from 30% to 10%. Brokerage firms such as Futu and Tiger support online filing; failure to submit the form will result in withholding at the 30% rate.<\/p>\n<p style=\"margin:0 0 16px;\">Document Management: Retain transaction records, tax payment receipts (Form 1042-S), and dividend notices for at least 10 years. Capital gains are taxed on a \u201crealized basis\u201d\u2014a tax liability arises only when assets are actually sold and the gains are realized; unrealized gains on the books are not subject to tax.<\/p>\n<p style=\"margin:0 0 16px;\">Reminder: Filing Form W-8BEN to reduce U.S. withholding tax does not mean you can ignore the 20% requirements in China. Taxes already paid overseas may be claimed as a credit under the tax treaty, but you must handle the process yourself.<\/p>\n<p style=\"text-align:center;font-size:52px;font-weight:700;color:#fff;-webkit-text-stroke:2px #1a3a6b;margin:60px 0 0;line-height:1.1;text-shadow:0 0 1px #1a3a6b;\">04<\/p>\n<p style=\"text-align:center;font-size:20px;font-weight:700;color:#1a3a6b;margin:12px 0 30px;\">Which lane is the most hassle-free?<\/p>\n<p style=\"margin:0 0 16px;\">Investing primarily in Hong Kong stocks: Use the Stock Connect program\u2014capital gains are tax-free through 2027, and currency exchange is hassle-free, but dividends are subject to a 20% withholding tax. Investing in U.S. stocks: Open a U.S. stock account and file Form W-8BEN to enjoy a 10% dividend tax rate.<\/p>\n<p style=\"margin:0 0 16px;\">Corporate accounts\/funds: The rules are different (corporate H-shares are exempt from corporate income tax on dividends after 12 months); do not confuse them with individual accounts. For QDII funds and Stock Connect, institutions withhold and remit taxes on behalf of investors, so individuals generally do not need to take any additional action.<\/p>\n<p style=\"margin:0 0 16px;\">Retail investor 90%: A Stock Connect account and a U.S. stock account (W-8BEN) are sufficient; you don\u2019t need an ITIN. An ITIN is only required if you have other U.S. reporting obligations.<\/p>\n<p style=\"text-align:center;margin:30px 0;\"><img decoding=\"async\" src=\"https:\/\/qcyboss.oss-cn-shenzhen.aliyuncs.com\/wp-content\/uploads\/2026\/07\/20260714120111567.png?wx_fmt=png&#038;from=appmsg\" style=\"display:block;margin:0 auto;width:180px;border-radius:8px;\" \/><\/p>\n<p style=\"text-align:center;font-size:13px;color:#999;margin-top:8px;\">Scan the QR code to add Qicaiying\u2019s online customer service<\/p>\n<p style=\"text-align:center;font-size:52px;font-weight:700;color:#fff;-webkit-text-stroke:2px #1a3a6b;margin:60px 0 0;line-height:1.1;text-shadow:0 0 1px #1a3a6b;\">05<\/p>\n<p style=\"text-align:center;font-size:20px;font-weight:700;color:#1a3a6b;margin:12px 0 30px;\">How to Stay Compliant and Avoid Pitfalls<\/p>\n<p style=\"margin:0 0 16px;\">First, choose the right channels: Hong Kong Stock Connect is exempt from the price difference tax, and U.S. stock accounts require a W-8BEN form. Second, keep all documentation: retain transaction records and tax payment certificates for 10 years.<\/p>\n<p style=\"margin:0 0 16px;\">Third, annual filing: Regardless of whether you actually paid taxes, income from Hong Kong and U.S. stocks must be reported between March and June of the following year, and you can apply for a tax credit for any foreign taxes already paid. Fourth, do not trust underground money transfer services: Sending funds overseas through unofficial channels\u2014such as using USDT\u2014may be illegal.<\/p>\n<p style=\"margin:0 0 16px;\">In a nutshell: The bottom line for investing in Hong Kong and U.S. stocks in 2026 is \u201ccompliant channels and proper reporting.\u201d Tax exemptions are time-limited (the Stock Connect program runs until 2027), and reporting is mandatory; keeping your books in order is far safer than gambling on the tax authorities not conducting an audit.<\/p>\n<p style=\"text-align:center;margin:30px 0;\"><img decoding=\"async\" src=\"https:\/\/qcyboss.oss-cn-shenzhen.aliyuncs.com\/wp-content\/uploads\/2026\/07\/20260714120111567.png?wx_fmt=png&#038;from=appmsg\" style=\"display:block;margin:0 auto;width:180px;border-radius:8px;\" \/><\/p>\n<p style=\"text-align:center;font-size:13px;color:#999;margin-top:8px;\">Scan the QR code to add Qicaiying\u2019s online customer service<\/p>\n<p style=\"text-align:center;font-size:16px;color:rgb(15,17,21);letter-spacing:3px;margin:40px 0 20px;\">\u2014\u2014 E N D \u2014\u2014<\/p>\n<div style=\"margin:0 0 24px;\">\n<p style=\"font-size:17px;font-weight:bold;color:rgb(15,17,21);margin:0 0 14px;\">\ud83d\udccc Recommended Articles from Previous Issues<\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17830\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">In 2026, Mainland Residents Can Apply for Hong Kong Credit Cards\u2014How to Choose Between the \u201cGo to Hong Kong\u201d App and BOC Zhong\u2019an?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17826\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">Meike Duo\u2019s Major RFC Audit: How High Will Taxes Soar for Sellers Who Fail?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17824\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">Transferring Customer Payments from a Business Account to a Personal Account: What Will Be Considered Compliant in 2026?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17822\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">Investing Abroad in Russia and Malaysia: How to Avoid Pitfalls When Filing for ODI Registration?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17820\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">NOON Launches in the Gulf's Six Countries: How Can Chinese Sellers Tap Into This New Blue Ocean?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17818\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">The Hong Kong Quality Migrant Admission Scheme Is Abolishing the Points-Based System\u2014How Exactly Will People Obtain Residency in 2026?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17816\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">With \u201cBuy-and-Pay\u201d Exports Under Scrutiny, How Can Cross-Border E-Commerce Businesses Safely Claim Tax Refunds in 2026?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17680\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">How exactly should VAT refunds from Takealot be calculated to avoid a loss?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17678\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">Which Hong Kong credit card is right for you: Standard Chartered, DBS, or ZhongAn?<\/a><\/p>\n<p style=\"font-size:16px;line-height:1.75;margin:0 0 10px;\">\ud83d\udd17 <a href=\"https:\/\/www.qicaiying.cn\/en\/archives\/17676\/\" style=\"color:#576b95;text-decoration:none;border-bottom:1px solid #576b95;\">What is the process for a Guangzhou business owner to register an ODI company in Hong Kong?<\/a><\/p>\n<\/div>\n<p style=\"text-align:center;margin:25px 0;\"><img decoding=\"async\" src=\"https:\/\/qcyboss.oss-cn-shenzhen.aliyuncs.com\/wp-content\/uploads\/2026\/09\/20260902112530114-scaled.png?wx_fmt=png&#038;from=appmsg\" style=\"max-width:100%;border-radius:8px;\" \/><\/p>\n<div style=\"margin:0 0 20px;\">\n<p style=\"font-size:16px;line-height:1.75;color:rgb(15,17,21);margin:0;\">As a professional one-stop business service platform, Qicaiying is committed to providing our clients with high-quality services, including mainland company registration, Hong Kong company registration, offshore company registration, bookkeeping and tax filing, annual reviews and audits, corporate bank account opening, financial and tax compliance, equity structuring, ODI filing, cross-border e-commerce services, Hong Kong residency, immigration, and study abroad\u2014all designed to support businesses in their global expansion. Feel free to add me on WeChat (phone number and WeChat ID are the same: 18620388671) for inquiries at any time.<\/p>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Lin, who trades Hong Kong and U.S. stocks, received a notice from the tax authorities in 2026 stating that he must report his foreign investment income. He was baffled\u2014does he need to pay taxes to both the U.S. and China on his profits from U.S. stocks? He found out that capital gains from Stock Connect transactions are temporarily exempt from individual income tax until the end of 2027, but for U.S. stocks traded through a direct U.S. brokerage account, he must file his own tax return; under the China-U.S. tax treaty, withholding tax on U.S. stock dividends can be reduced to 10% by filing Form W-8BEN.<\/p>","protected":false},"author":18,"featured_media":17843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17,18,64],"tags":[650],"class_list":["post-17828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-allguide","category-recomguide","category-gf-tax-compliance","tag-650"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u6e2f\u7f8e\u80a1\u6536\u76ca\u8981\u4ea420%\u7a0e\uff1f2026\u5e74\u600e\u4e48\u5408\u89c4\u7533\u62a5\uff1f - 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