Australia consults on establishment of beneficial ownership registry

The Australian government is moving forward with efforts to establish a public register of the beneficial owners of companies to put an end to the use of shell companies to hide illegal activities, including tax evasion.

Treasury today released a consultation on the establishment of such a registry, requesting feedback on issues such as the type of information that should be collected, and how information should be collected, stored, and kept up to date.

Feedback is also sought on expected compliance costs.

The closing date for submissions is March 13.

See:

• Consultation