03/08/2020 – A new beneficial ownership e-learning course was released today on the OECD Centre for Tax Policy and Administration's website. This course, prepared by the Global Forum on Transparency and Exchange of Information for Tax Purposes (Global Forum) and the Global Relations and Development Division of the OECD Centre for Tax Policy and Administration in partnership with the Asian Development Bank (ADB), is intended to help tax officials understand the Global Forum's standards related to beneficial ownership. The course is offered free of charge, and it is open to officials from Tax Administrations and Ministries of Finance.
Beneficial owner refers to the natural person(s) who ultimately owns or controls a customer and/or the natural person on whose behalf a transaction is being conducted. It also includes those persons who exercise ultimate effective control over a legal person or arrangement. Transparency of beneficial owner information is essential to deterring, detecting and disrupting tax evasion and other financial crimes.
This e-learning course covers a variety of important issues related to beneficial ownership. By the end of this course, participants will be able to:
With 161 members, the majority of whom are developing countries, the Global Forum has been heavily engaged in providing technical assistance on the beneficial ownership requirements, often with the support of partner organisations including the ADB. This course offers another means to further equip members to comply with the international tax transparency standards. In order to facilitate and maximise the use of this course, French and Spanish versions will be released shortly.
How to register?
The Global Forum is the leading multilateral body mandated to ensure that jurisdictions around the world adhere to and effectively implement both the standard of transparency and exchange of information on request and the standard of automatic exchange of information. These objectives are achieved through a robust monitoring and peer review process. The Global Forum also runs an extensive capacity-building programme to support its members in implementing the standards and help tax authorities make the best use of cross-border information sharing channels.