“Even if they move all the money out of the CRS-reported accounts and into U.S. bank accounts, that doesn't naturally reduce or wipe out the tax authorities' right to tax, or their obligation to pay,”

Cris Cao · said date not stated · reported 2026-10-23

Cao said moving money from CRS-reported accounts into U.S. bank accounts does not eliminate the Chinese tax authorities' right to tax or the client's obligation to pay.