This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.  
  • Delicious


Close

Password Reminder

Please enter your email address to receive a password reminder.

 

Log into Tax-News+
Not registered yet? Find out about our daily news alert service »

Email Address: 
Password: 

Login »

Forgotten your password?


Today’s Top Headlines




International Support For Beneficial Ownership Info Exchange

by Robert Lee, Tax-News.com, London

27 April 2016

More than 20 jurisdictions have signed up to a pilot project to exchange data held on beneficial ownership registers and registers of trusts, according to UK Chancellor George Osborne.

Osborne last week announced that the UK, France, Germany, Italy, and Spain are to explore the best way for countries to share this information, with a view to developing a global common standard and the interlinking of national registers. The five countries have suggested that the Organisation for Economic Cooperation and Development and the Financial Action Task Force develop the recommended standard.

Osborne commented: "Only a week after Britain launched this initiative with some of our closest European partners, it's gaining the international support that will be vital to make it truly effective."

The following jurisdictions have now agreed to take part in the project: Gibraltar, the Isle of Man, Montserrat, the Netherlands, Romania, Sweden, Finland, Slovakia, Latvia, Croatia, Belgium, Ireland, Slovenia, Denmark, Malta, Lithuania, Cyprus, Bulgaria, Portugal, Estonia, Greece, and the Czech Republic.

Osborne added: "It should be clear to all countries and tax jurisdictions that the world is moving firmly in the direction of greater tax transparency and the UK will continue to push for an internationally agreed blacklist for those that refuse to do the right thing."

TAGS: Isle of Man | compliance | tax | business | company formation | tax compliance | Belgium | Denmark | Gibraltar | Ireland | Malta | Montserrat | Netherlands | Portugal | Slovenia | banking | financial services | trusts | Bulgaria | Estonia | Latvia | Romania | Slovakia | United Kingdom | tax authority | tax planning | Cyprus | Czech Republic | Finland | France | Germany | Greece | Italy | Spain | Sweden | tax breaks | Croatia | Lithuania | services | Europe | Tax | Tax Evasion

To see today's news, click here.

Leave a comment

Read our Posting Guidelines