By: Danny McCance
February 21, 2019
The publication of registers of beneficial ownership in British overseas territories could be pushed back to 2023, despite the risks posed to national security.
They would set out all of the businesses registered within these jurisdictions in a bid to improve tax transparency.
They would set out all of the businesses registered within these jurisdictions in a bid to improve tax transparency.
“We welcome the [Foreign and Commonwealth Office’s] assurances that it is working with the [overseas territories] to help them implement the Sanctions and Anti-Money Laundering Act,” a Foreign Affairs Select Committee report stated.
“We profoundly regret, however, that public registers may not be published before 2023.
“It is simply not acceptable that this will be long after the deadline set out in the Act,” it added.