PUBLIC ACCESS TO BO REGISTERS – A LOOK BEYOND AND AHEAD In 2022, the Court of Justice of the European Union (CJEU) issued a preliminary judgment ruling that public access to information on beneficial ownership of companies incorporated in EU member states constitutes a “serious interference with the fundamental rights to respect for private life...Read More

SOUTH AFRICA: A B.O. OWNERSHIP REGISTER TO COME INTO FORCE IN APRIL 2023 These are really busy days for South Africa on both the international and domestic tax and regulatory fronts. At a plenary meeting of the AML standard-setting body on 24 February 2023, the “Financial Action Task Force” (FAFT) has added the African country...Read More

ECOFIN PUTS RUSSIA AND BVI ON BLACKLIST The blacklist of tax havens continues to grow. At its meeting on 14 February, the Economic and Financial Council of the European Union (also known as Ecofin) added Russia, the British Virgin Islands, Costa Rica and the Marshall Islands to the list of non-cooperative jurisdictions for tax purposes....Read More

ATAD 3 AND SWISS HOLDING COMPANIES While the European Union’s implementation of ATAD 3 will not directly affect Swiss entities, it might as a matter of fact make Swiss holding companies more attractive for international corporations and wealthy individuals. STATUS QUO The latest amendments to the European Commission’s draft directive for preventing the misuse of...Read More

FATCA AGREEMENT: ARGENTINA HAS TO FACE MANY CHALLENGES It will not be easy for the Argentine government to implement the FATCA agreement. On a closer inspection, there are critical issues that may arise in implementing the operational terms of the agreement with the United States. FATCA came into force on 1ᵒ January without going through...Read More