Govt moves to identify 'who owns what'

Govt moves to identify 'who owns what'
Clark: "New Zealanders deserve to know who they're doing business with" (Image: BusinessDesk)
Brent Melville
The government will introduce legislation this year to shine a light on company ownership to crack down on money laundering, tax evasion and other criminal activity.Commerce and consumer affairs minister David Clark said proposed changes to the rules around beneficial owners under the government's national security priorities will bring New Zealand in line with other jurisdictions.Clark said while the simplicity of establishing a company or limited partnership in NZ is great for doing business, it also opens the door for criminals to take a...

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