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Mon Oct 12, 2020, 12:12 PM

NEW - British Virgin Islands publishing a PUBLIC register of the owners of its offshore companies.

BOOM! The British Virgin Islands publishing a PUBLIC register of the owners of its offshore companies. Dictators, crooks, Mobsters, and spies are all...worried today. Trust me.

This will be...NOTEWORTHY.







Notorious tax haven British Virgin Islands to introduce public register of company owners
The territory’s secrecy rules have long attracted criminals and secretive companies created there have featured in several ICIJ investigations on offshore finance.
https://www.icij.org/investigations/fincen-files/notorious-tax-haven-british-virgin-islands-to-introduce-public-register-of-company-owners/
The British Virgin Islands, a popular tax haven where secrecy rules have long attracted criminals, will introduce a public register of owners of companies created on the island.

The BVI, an overseas territory of the United Kingdom located east of Puerto Rico, has a well-documented history of being misused by drug traffickers, corrupt politicians, and tax evaders. Successive scandals, including exposés by the International Consortium of Investigative Journalists, have placed the BVI under pressure to increase transparency.

Andrew Fahie, BVI’s premier and minister of finance, told the island’s House of Assembly in September that his government would work “towards a publicly accessible register of beneficial ownership for companies,” albeit “subject to reservations.” Liz Sugg, the U.K. minister with responsibility for territories like the BVI, later tweeted that the public register would be adopted by 2023.

“Every time that there’s a global exposé on illicit finance, the BVI’s name comes up,” said Ava Lee, anti-corruption campaign leader from the nonprofit Global Witness. “The recent leak of files from FinCEN showed that at least 20% of the occasions when banks in the US raised suspicions of money laundering involved BVI companies, and half the companies exposed by the Panama Papers were registered there.”

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Reply NEW - British Virgin Islands publishing a PUBLIC register of the owners of its offshore companies. (Original post)
Roland99 Oct 12 OP
Hekate Oct 12 #1
Zoonart Oct 12 #2
Roland99 Oct 12 #4
Zoonart Oct 12 #5
Wounded Bear Oct 12 #3

Response to Roland99 (Original post)

Mon Oct 12, 2020, 12:16 PM

1. 5th Rec

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Response to Roland99 (Original post)

Mon Oct 12, 2020, 12:17 PM

2. Connect the dots

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Response to Zoonart (Reply #2)

Mon Oct 12, 2020, 12:26 PM

4. I hate this part, though: " the public register would be adopted by 2023."

Gives way too much time to obfuscate and move stuff around

But it's a good action for them to take!

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Response to Roland99 (Reply #4)

Mon Oct 12, 2020, 12:47 PM

5. I guess it's better late than never...

it does set a precedent though. Maybe we can get a toe hold on shutting down off-shoring.

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Response to Roland99 (Original post)

Mon Oct 12, 2020, 12:25 PM

3. We really need to root out all of the tax shelters around he world...

and the places that hide dirty money for criminals.

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