News & Topics

EU tax rules target dirty money

EU state and the European parliament have struck an agreement intended to stop shell companies being used to finance criminal activity or evade taxes.  Central registers will be set up listing the benefincal owners of companies, trusts and other legal entities, giving the name, month and year of birth, nationalilty and residency of the people who own and profit from them.  In addition, banks, accountants, lawyers, real estate agents and casinos will also be required to be more vigilant about suspicious transactions.