The Global Forum provides training on beneficial ownership information and the fight against tax evasion
08/02/2018 - The Global Forum on Transparency and Exchange of Information for Tax Purposes held its fourth seminar on Beneficial Ownership (BO) and Exchange of Information on Request (EOIR) in Pretoria, South Africa from 29 January to 2 February 2018. The seminar was hosted by the South African Revenue Service (SARS) and the African Tax Administration Forum (ATAF). More than 60 delegates from 26 countries and international organisations participated.
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 was part of a broader effort to ensure that jurisdictions all around the globe have the tools needed to ensure that tax evaders can no longer hide behind shell companies or layers of intermediaries.
With the help of experts from the Global Forum Secretariat, delegates discussed the policy, legal, regulatory and institutional requirements of ensuring the availability of beneficial ownership information. The training seminar provided an opportunity to build and share collective knowledge, experience and networks among participants on the very important issues of BO and EOIR.
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