The AICD has made a submission to the Australian Government’s consultation on increasing transparency of the beneficial ownership of companies.
The AICD acknowledges the important role that transparency of the beneficial ownership of companies can play in assisting authorities to combat illicit activities such as tax evasion, money laundering, and terrorism financing. However, any proposed reforms have the potential to impose additional administrative costs on every company. Accordingly, the AICD is supportive of measures to improve beneficial ownership transparency that are effective, efficient, and consistent with existing relevant regulation.
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