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Transferring money to a friend's account in China. Will they be taxed?


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Posted

Hi,

Been perusing the posts here but haven't found an answer to my question.

Before I move to China next month, I will be closing my bank account in Japan and wiring the money to my girlfriend's account (in China). It's a pretty big chunk of change. I'm wondering if she will be taxed/penalized for it.

Thanks in advance.

Posted

I am assuming your girlfriend is not Chinese...In that case, if it's not a business account, there shouldn't be any taxes involved, aside from wire transfer fees on your side.

To be 100% sure, she could stop by her bank and ask.

Posted

Sunyata,

Thanks for the quick reply. She is Chinese and it's a personal account, not a business account.

I plan to talk with her about it on the phone, but I thought I'd ask here first.

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