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How does the "beneficial owner" benefit from the ownership if he can't prove he's the owner? How do they get their money out? And can't we tax them at this poin
by kisstheblade 8y ago
How does the "beneficial owner" benefit from the ownership if he can't prove he's the owner? How do they get their money out? And can't we tax them at this point?
Yes I understand these are difficult schemes but can't you just freeze accounts you don't know who the owner is and see who comes out of the woodwork.
Just freeze all accounts until paperwork X is signed, problem solved?
- mrleiter 8y agoUsually through trustees and fiduciaries in yet again different jurisdictions. Until you prove beyond a reasonable doubt who the beneficial owner is, it's really legally ambiguous to enforce any laws or regulations. There are efforts aiming at this [1], but it will take time. [1] http://www.oecd.org/tax/automatic-exchange/ http://www.oecd.org/tax/automatic-exchange/