Will I still be taxed if I gift RMB 2.44 million to my children within one year?
A parent donated RMB 2.44 million to each of his two children. Since each child did not exceed the annual tax exemption, no special declaration of gift tax was made. After verification by the National Taxation Bureau, because the total amount of gifts exceeded 2.44 million yuan, the company was required to pay the excess gift tax of 10%, totaling 244,000 yuan. What exactly is the problem?
