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Australia, Compliance, Regulatory

NEWS: Australian Treasury Dept. launches consultation paper on tax transparency; reveals plans to implement public beneficial ownership register

By Elizabeth Hearst for AMLi

The Australian Treasury Department has revealed the country will implement a public registry of beneficial ownership to “improve transparency on corporate structures.”

Published in the consultation paper; Multinational Tax Integrity and Tax Transparency, the Treasury Dept. explained that the new beneficial ownership registry will show who “ultimately owns (or controls) a company or legal vehicle.”

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