News items from Economy
The Denomination of Corporate Transparency Act was included in the draft law for the defense of the United States approved by the Congress on Friday night.
United States eliminated an important channel for money laundering and the evasion of taxes in the wake of a new one that now requires the revealing of the numbers of ghost business owners, widely used to cover fiscal miles of millions of dollars.
The so-called Corporate Transparency Act was included in the draft law for the defense of the United States, approved by the Congressional House on Sunday, President Donald Trump’s veto.
“This is the most important step we can take to better protect our abusive financial system,” said Ian Gary, executive director of the FACT Coalition, which praised the adoption of the norm.
The owners of closed companies, agreed with this law, gave their identity to an agency of the Department of Treasury of the United States, the Financial Crimes Enforcement Network (FinCEN).
“During these years, the experts routinely classify anonymous ghost companies (…) as the mayor debilitates our salvage against the money laundering,” said Gary.
Only the Treasury Department and the policy will have access to this information, which will always be protected by the general public. As for the defenders of transparency, this is a major step towards corruption, organized crime and fiscal evasion.
Although it has paid close attention to tax havens such as Panama or the Cayman Islands, experts argue that the state of the economy and, for that matter, its ability to absorb millions of dollars in relatively unmanageable ways is a central element for transforming the illicit funds into limp money.
‘N Principles of 2020, the organization Tax Justice Network classified the Cayman Islands and United States as the champions to allow the cultivation of the finances of the islands of the city and the taxation of taxes.
The United Nations calculates that each year is between 800,000 million and 2 billion dollars through the global financial system.