Roadmap to Effective Beneficial Ownership Transparency (REBOT)

26 Pages Posted: 30 Jun 2023

Date Written: February 6, 2023

Abstract

This roadmap presents the Tax Justice Network’s vision for beneficial ownership frameworks that achieve truly effective transparency. It consolidates our policies regarding: scope of entities subject to beneficial ownership registration, registration triggers, definition of legal and beneficial ownership, update, details to be registered, access, verification, sanctions and other issues (e.g. bearer shares, complex ownership structures, investment funds, etc.). This version will be constantly updated based on new ideas or experiences to achieve the most ambitious transparency outcome. We understand that political, technical and budget constraints may prevent countries from achieving this standard in the short or medium term. For this reason, the roadmap offers for each framework target the steps governments can take to reach three levels of transparency: minimum transparency (the minimum legal framework that should be applied), benchmarked transparency (more robust legal frameworks that are already being used in at least one country), and effective transparency (iron-clad legal frameworks that deliver the level of transparency needed to effectively prevent and prosecute illicit financial activity, to ensure the rule of law and eliminate secrecy loopholes and workarounds).

Suggested Citation

Knobel, Andres, Roadmap to Effective Beneficial Ownership Transparency (REBOT) (February 6, 2023). Available at SSRN: https://ssrn.com/abstract=4470178 or http://dx.doi.org/10.2139/ssrn.4470178

Andres Knobel (Contact Author)

Tax Justice Network ( email )

Argentina

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