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Tax Transparency Set for a Boost With New U.S. Initiatives

March 9, 2021, 9:45 AM

Beneficial ownership and the lack of corporate transparency are in the news.

A recent investigation by Transparency International detected potential gaps in the definition of beneficial ownership and the process by which it is governed for Luxembourg funds, thereby urging the European Commission to take a closer look at the current rules.

The examination has renewed discussions to implement public country-by-country reporting, as well as a global effective corporate minimum tax, which aligns with one of President Joe Biden’s initiatives.

At the end of last year, the Corporate Transparency Act, or CTA, became a reality for the U.S., as ...

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