Beneficial Ownership
MEPs threaten privacy rights with beneficial ownership vote
In a bid to crackdown on tax evasion, European citizens could have their private financial affairs exposed to the public after members of the European parliament (MEPs) voted to include trusts and allow EU citizens access to beneficial ownership registers.
Tax & Regulation | 1 Mar 17
IoM says no to making beneficial ownership data public
The Isle of Man government has said it will not be forced to create a public register on the beneficial ownership of offshore companies until it becomes the “international norm” amid mounting pressure from UK politicians.
Tax & Regulation | 20 Feb 17
Aus eyes beneficial ownership list in tax avoidance crackdown
The Australian government is consulting on setting up and maintaining a register that would reveal the identities of the companies’ beneficial owners.
EU concerned over IoM’s ‘limited’ beneficial ownership data
EU officials have raised concerns over the Isle of Man’s beneficial ownership rules, revealing that limited data on the ultimate owners of companies registered to the island could make the crown dependency “vulnerable” to money laundering.
Tax & Regulation | 20 Jan 17
Beneficial ownership data requests may breach UK legal rights
Requests from HM Revenue & Customs (HMRC) for beneficial ownership information on offshore companies and trusts may conflict with legal professional privilege (LPP), says the Law Society of England and Wales.