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New deal to share ownership information
19 April 2016
The EU’s five largest economies have agreed to share company ownership information.
At a recent G20 meeting the UK, Germany, France, Italy and Spain revealed they will in future automatically share information on who owns secretive shell companies and trusts.
Interestingly the deal also includes the UK’s overseas territories and crown dependencies.
Top lawyers said that the increased exchange of information is likely to lead to an increase in both civil and criminal investigations carried out by HMRC and other tax authorities.
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