GUIDE TO IDENTIFICATE THE BENEFICIAL OWNERS

Last 20 March, during Global Integrity and Anti-Corruption Forum it was introduced and published on the OECD website, the “beneficial ownership toolkit”. This is the first guide addressed to countries that joined the international standards on fiscal transparency.

The beneficial ownership toolkit has been realized by OECD Global Forum on transparency and information exchange for fiscal purposes, in cooperation with the Inter-American Development Bank and it aims to guarantee to the tax supervisors the fastest access to all information needed for beneficial owner identification. Also, this instrument grates transparency and protection of fiscal systems.

In this way it, may be more difficult for criminals conceal the illicit behaviours through opaque structures and it may be easier to prevent, identify and obstruct tax evasion.

The toolkit contains a detailed summary regarding the beneficial ownership and aimed to define who is the “beneficial owner”, the criteria for identify it, the technical aspects of the beneficial ownership requirements, distinguishing between formal persons, legal entities (for example trust) and the international measures to be adopted. Also, this guide lists the methods to be applied in the UBO’s review in the Global Forum EOIR and the developing countries.

Our staff remains available for any clarification.