Felix Ng spoke on tax fraud & financial regulations in IBA Sydney Annual Conference

Our partner Felix Ng was invited as a speaker in the International Bar Association (IBA) Annual Conference 2017 held in Sydney, Australia, together with criminal specialists from the Netherlands, Italy and England.

To start off this Criminal Law & Business Crime joint session, Felix provided an overview on the tax prosecution regime in Hong Kong and elaborated on the concepts of tax fraud, tax evasion and tax avoidance. He then analyzed the roles of financial institutions in tackling tax fraud by making reference to banks’ enhanced due diligence under the Hong Kong Monetary Authority (HKMA)’s Guidance Paper “AML Controls over Tax Evasion” dated March 2015.

Felix also discussed Hong Kong’s implementation of its disclosure obligations under the U.S. Foreign Account Tax Compliance Act (FATCA) and the Organization for Economic Cooperation & Development (OECD)’s automatic exchange of tax information by late 2018.

During the conference, Felix also attended a fraud and money laundering trial at the New South Wales Supreme Court before Hon Justice Elizabeth Fullerton. In addition, he had the opportunity to meet Hon John Howard, the former Prime Minister of Australia (1996 – 2007) and Mr. Rod Sims, the Chairman of the Australian Competition and Consumer Commission.

For details of the Conference program, please Click here