Financial Transparency Coalition

Submission Date: 26 July 2018 The FTC was encouraged to see the adoption of the mandate to curb illicit financial flows last month at the BRICS Tax and Customs meeting. In this regard, we submitted a letter to share some policy recommendations for a unified strategy against illicit financial flows ahead of the 10th BRICS Summit,

Submission Date: 16 May 2018 The FTC has entered a submission to Review of Canada’s Anti-Money Laundering and Anti-Terrorist Financing Regime. Canada has one of the weakest frameworks among G20 countries for identifying, collecting information on and maintaining records for beneficial ownership information for legal entities. Notwithstanding the commitments made by Canada towards undertaking “concrete action”

Submission Date: 16 March 2018 The FTC recently entered a submission to the OECD’s consultation on misuse of residence by investment schemes to circumvent the Common Reporting Standard. So-called golden visas have seen countries offer citizenship or residency for investment in an attempt to raise revenues or attract wealthy individuals. Golden visas risk enabling the avoidance

Submission Date: 15 January 2018 The FTC entered a submission to the OECD’s consultation on rules limiting taxpayers’ ability to hide their income and assets offshore.  However, as the OECD’s consultation itself noted, many advisers and service providers have been “actively marketing schemes” designed to circumvent the Common Reporting Standard requirements.