New Zealand sets up trust register to curb tax evasion, money laundering

13 July 2016 - 10:48
By REUTERS

New Zealand said it will introduce a registry of foreign trusts that local tax and law enforcement agencies could use to investigate suspected money laundering and tax evasion. The registry was recommended after an independent review by accountant John Shewan last month, in the wake of the Panama Papers revelations, who found the trusts were open to being used to hide illicit funds and tax abuse.

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