Peru enforces regulations on ultimate beneficial ownership

Pedro Gonçalves
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Peru enforces regulations on ultimate beneficial ownership

Peru has taken the next steps towards increased transparency and has issued the procedures for legal entities to report and identify their ultimate beneficial owners.  Under the new framework individuals are deemed beneficial owners if they hold at least 10% of an entity's capital.  All legal persons and entities are required to present an affidavit identifying the ultimate beneficiary based on the regulatory standards. This information must be reported to the Peruvian Tax Authority. ...

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