Clifford Ng
ON THE RECORD · 4 verbatim quotes · every quote source-verified
“Hiding is not tax planning.”
Clifford Ng · said date not stated · reported 2026-10-23
Ng cautioned that concealing offshore accounts does not constitute legitimate tax planning.
“They may still be in breach of the rules because they have an undisclosed offshore account that's making money and they're not declaring it onshore,”
Clifford Ng · said date not stated · reported 2026-10-23
Ng warned that clients with undisclosed offshore accounts earning money may still be in breach of Chinese tax rules.
“They are gambling on not being disclosed, because the U.S. does not share information as part of the CRS system; they can dodge tax authorities,”
Clifford Ng · said date not stated · reported 2026-10-23
Ng said Chinese clients are betting the U.S. will not share their financial information with Beijing since the U.S. sits outside the CRS reporting framework.
“have shown up in China at some point,”
Clifford Ng · said date not stated · reported 2026-10-23
Ng said money held offshore has likely already been reported to Beijing through CRS and would have shown up in China at some point.