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UK to make public true owners of companies in drive against tax evasion, crime

The United Kingdom has decided to lift the veil of secrecy over who owns private companies by opening a corporate registry to the public, a move that will make it harder to evade taxes and hide the proceeds of corruption…The United Kingdom would become the first country to make information on who lies behind complex corporate structures public… Transparency campaigners… have pushed hard for a public registry, saying it would not only help tax authorities in developed countries but also help those in developing countries trace corrupt funds that have been spirited out of the country…The Financial Transparency Coalition, which has campaigned since 2009 for public disclosure of corporate owners, called on other countries to follow the U.K.'s lead.

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