China has issued new rules aimed at strengthening tax collection from mainland companies with overseas investments and income, South China Morning Post reported, citing the State Administration of Taxation. The new regulation, announced last Thursday, will take effect from September 1. Under the new rules, mainland companies filing their annual tax returns are required to disclose more information on foreign entities in which they have a controlling stake of 50% or more, either directly or indirectly. “[It] will allow the China tax authorities to gather additional information on domestic enterprises’ offshore investments,” the tax bureau said.