New Zealand Plans New Law to Prevent Misuse of Companies - Bloomberg Tax

The New Zealand government plans a new law to make it harder for businesses to be used to hide money laundering, tax evasion and the financing of terrorism, Minister of Commerce and Consumer Affairs David Clark says in emailed statement.

• Legislation will be introduced in late 2022 that changes rules around beneficial owners to make it easier to see who owns or controls a company
• Says the Pandora and Panama papers highlighted key vulnerabilities that need to be addressed
• “The new measures will make it a requirement to provide accurate information about who the ‘beneficial owner’ is”: Clark
• A unique ...
  
  

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source: https://news.bloombergtax.com/daily-tax-report-international/new-zealand-plans-new-law-to-prevent-misuse-of-companies

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