Global Forum delivers tools to Caribbean and Latin American countries to address the issue of beneficial ownership information
The Global Forum on Transparency and Exchange of Information for Tax Purposes held its third seminar on Beneficial Ownership in Mexico City on 11-13 September 2017. The seminar was hosted by OECD Multilateral Tax Centre in Mexico City with support from the Inter-American Center of Tax Administrations (CIAT), the Inter-American Development Bank (IADB) and the World Bank Group. More than 60 delegates from 20 countries and international organisations participated.
Seminar on Beneficial Ownership
Mexico City, 11-13 September 2017
Ensuring the availability beneficial ownership information is at the forefront of the international agenda on tax transparency and is an vital part of the international standards of transparency and exchange of information for tax purposes (both automatic and on request). The absence of information about who ultimately owns and controls companies and other legal entities leads to tax evasion and money laundering, as well as enabling flows of illicit funds from developing countries. The seminar is part of a broader effort to ensure that jurisdictions of the Caribbean and Latin America have the tools needed to ensure that tax evaders in the region can no longer hide behind shell companies or layers of intermediaries.
With the help of experts from the Global Forum, the Inter-American Center of Tax Administrations (CIAT), the Inter-American Development Bank (IADB) and the World Bank Group, delegates discussed the policy, legal, regulatory and institutional requirements of ensuring the availability of beneficial ownership information in the Caribbean and Latin America. The Global Forum and other participating international organisations also affirmed their commitment to continued support for the Caribbean and Latin American countries' efforts to improve transparency and counter international tax evasion.
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