Tax transparency remains a top concern for governments and the public, as evidenced by the constant media coverage surrounding data leaks in recent years.
These data leaks also showed that tax evasion is not an isolated financial crime, but is generally linked to a wide range of activities, including money laundering and corruption, both of which have a negative impact. on corporations. The leaks revealed the use of corporations and trusts to conceal beneficial owners of assets and highlighted the critical role that transparency of property information can play in preventing tax evasion, corruption and other related activities.
International standards require a minimum of transparency with regard to the beneficial owners of companies, trusts and other legal arrangements, both for tax purposes and for the purposes of combating money laundering. It is more difficult for those guilty of tax evasion and other crimes to conceal their criminal activities and the proceeds of their crimes in jurisdictions where these standards are fully enforced.
This guide contains policy guidance that Global Forum member jurisdictions can use in implementing legal and supervisory frameworks to identify and collect beneficial ownership information, which is now a requirement of international standards.
Virginie Gastine Menou
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