New report: Leveraging ownership information to improve taxation

[Isabelle Kermeen]

Dear US Open Gov community, 

(apologies for cross-posting)

Open Ownership is delighted to share its latest policy brief: 

Leveraging information about beneficial ownership networks to improve taxation: Considerations for tax authorities and policy makers.

Read and download the report here. 

This briefing explores how tax authorities can effectively use the beneficial ownership information of legal vehicles from central registers and other kinds of information relevant to understanding these networks. 

We hope this output is useful, and ask that you please consider sharing the report with your colleagues and in your networks. Thank you very much in advance. As always, we welcome feedback.

In case you're interested in receiving our newsletter which we usually send every other month, please register here.

Kind regards,

Isabelle 

On behalf of Open Ownership

--

	Isabelle Kermeen (she/her) Communications Manager Based in: London, UK  +44 7340 399565 isab...@openownership.org  openownership.org | @openownership
Over 150 countries have committed to beneficial ownership transparency. Open Ownership is currently working condensed hours; availability may be reduced on alternate Fridays.

[Alexander Howard]

Thank you for sharing Open Ownership’s work, Isabelle!

Sadly, the U.S. opengov community is now confronted by the Trump administration’s proposal to exempt most domestic entities in the USA from having to register beneficial ownership with FinCEN, where the database remains closed.

If that becomes a final rule, it will make it hard for US tax authorities to use BOI for anticorruption purposes here or in colllaboration with international authorities abroad. 

As is true in other contexts relevant to open government, it’s unfortunately unclear whether this Congress will force this administration to follow the law and ban anonymous shell companies in the USA —- or accede to neutering one of the most important anti-corruption laws in a generation.

-Alex

Context from the FACT Coalition: “the Treasury Department announced an interim final rule to exempt domestic companies as well as U.S. owners of foreign companies from filing information under the bipartisan Corporate Transparency Act (CTA), a landmark anti-money laundering law that requires certain U.S. entities to provide basic identifying information to the Treasury Department about their true, or “beneficial”, owners. If finalized, the rule would exempt more than 99 percent of entities from reporting their ownership information under the statute.” 

https://thefactcoalition.org/fentanyl-traffickers-u-s-adversaries-biggest-winners-in-new-treasury-proposal/

--
You received this message because you are subscribed to the Google Groups "US Open Government" group.
To unsubscribe from this group and stop receiving emails from it, send an email to us-open-governm...@googlegroups.com.
To view this discussion visit https://groups.google.com/d/msgid/us-open-government/CAPefGMnLyUFnA7W%2B-9y3NzMPXj_hAwNe5cHt617iy1e95PZgwg%40mail.gmail.com.