09

Jul

Europäisches Unternehmensregister

European register of companies, to prevent letterbox companies from obscuring who’s behind an enterprise.

The E.U. law mandating a new European companies register is being worked out in Brussels. Sven Giegold (Green party) said the current draft would only allow officials to view the register. Süddeutsche Zeitung confirmed it did not explicitly say everyone will be allowed to see the information. “Insiders said this was because publicly naming companies’ and foundations’ economically authorized persons would violate privacy.”

Sven Giegold said you don’t have to publish their names and addresses, but the public has a right to know who’s behind things. To prevent abuse of the companies register, there could be a register documenting the people who want to view the companies register.

An activist from a group called One said Africa loses 44 billion euros each year that are diverted and laundered through anonymous trusts and letterbox companies.

(Oy roe PAY ish ess   oon ta NAE MON’S ray GISS ta.)

10 years ago Short URL Comments

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10

May

Weißgeldstrategie

“White money strategy.”

Under-the-table money is called Schwarzgeld, black money. Before Switzerland got rid of banking secrecy this year by joining the O.E.C.D.’s common standard for automatically sharing account holders’ banking data with the tax authorities in the account holders’ home countries, Switzerland first adopted a so-called “white money strategy” for several months. The Süddeutsche Zeitung said the policy involved trying to only attract and manage legal money. In some cases, under this policy, Swiss banks pressured their clients to make things right with the tax authorities at home, or lose their Swiss bank account.

How Switzerland’s new rules will look remains unclear, said the Süddeutsche. It’s possible that it may be easy to get around them by using letterbox firms or “shell” companies. “The only thing that will help against that is transparent company registers.”

(VICE geld shtraw tegue eee.)

10 years ago Short URL Comments

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