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  • RE: Gift tax for cash gift from overseas

    Hi, I am a UK resident but my parent is in China My parent has some properties in Shenzhen and last year in Sept 2022, the local property developer and state officer in China informed them that a redevelopment project led by local government will be started after several years and they asked my parent to sign the agreement of the project and a sign-on bonus is therefore provided. My parent agreed and put my name as beneficiary in the agreement to receive the payment approx. CNY55,000 In this circumstance, do i need to pay tax for it? Thank you