The organisation and procedures remain complete and coherent and peers have been very
satisfied with the quality and timeliness of the information provided by New Zealand.
The main gap identified relates to the availability of beneficial ownership information,
where a gap was identified in terms of coverage of legal entities, in particular the
ones that do not fall within the obligations established for offshore persons.
New Zealand is recommended to ensure adequate implementation of legal obligations
concerning beneficial ownership, in particular the obligations established under anti-money
laundering legislation, and the tax reporting requirements imposed on offshore persons
and non-resident settlor trusts.