Make the register of overseas registered entities public
Transparency International has called for "a public repository of the overseas beneficial owners of assets registered in New Zealand for all legal entities.”
When ordinary New Zealander's banking and overseas transfers of small amounts of money have been made into a top heavy & inconvenient not having a register of those organisations mostly likely to be the cause of the more than $1.35bn of dark money coming into NZ each year makes a mockery of our laws. New Zealand has been a tax haven. Some of the worst aspects have been reined in. A public list will help to clean up foreign tax evasion and the use of NZ as a destination for money laundering.
This article outlines the issue from Transparency International NZ. https://www.transparency.org.nz/report-on-money-laundering-and-financing-terrorism-warns-against-complacency/
Why the contribution is important
New Zealand's reputation overseas. Taxation fairness. Preventing overseas money from being laundered into legitimate businesses and property in NZ.
by JanR on May 15, 2018 at 11:30PM