After years of foot-dragging, the Liberal government is signalling it intends to create a public registry of corporate ownership. “This is a huge deal for Canada’s fight against money laundering,” said James Cohen, executive director of Transparency International Canada. “Canada is a new player in the world of offshore companies,” reads one offshore corporate registration website. Loading... Loading... Loading... Loading... Loading... Loading...Monday’s budget set aside $2.5 million over two years for the federal government to “support the implementation” of a publicly accessible corporate beneficial ownership registry by 2025. That includes “enhancing capacity” to identify tax evasion involving trusts.

Source: thestar April 21, 2021 21:45 UTC