Company ownership register to be available for public viewing in Germany

Further information has been disclosed about the new German Finance Ministry's anti-evasion strategy, which will include the creation of a global blacklist for jurisdictions seen as being non-cooperative in transparency respect.

Going forward the following key regulations will apply to German companies:

  • The disclosure of tax avoidance schemes will be mandatory.
  • A company beneficial ownership register that will be open to the public.
  • Stronger fines for breaking of corporate law.
  • An extended statute of limitations for tax evasion.
  • Increasing stringent national anti-money laundering legislation.

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