"National Business Register" to contribute to fight against money laundering and tax evasion | Tunisia News Gazette

“National Business Register” to contribute to fight against money laundering and tax evasion

(TAP) � The draft law on the “National Business Register” will contribute to the fight against money laundering and shell companies, insofar as its provisions oblige to mention the identity of all the founders, managers and directors of the company.

This bill, a copy of which obtained by TAP, requires the introduction of the identity of the shareholders and the true beneficiaries of the companies, without setting a minimum threshold of participation in the capital of the company, which will facilitate the identification of the main beneficiary.

The aim of this 66-article bill is to set up a modern administration that helps fight against money laundering and tax evasion by adopting international standards and thereby meeting the requirements of world organisations such as Transparency International and international expert groups such as the Financial Action Task Force (FATF).

The draft law, adopted by the cabinet meeting on March 21, 2018, proposes the creation of a non-administrative public institution that enjoys administrative and financial independence. This institution will be called the “National Business Register Centre” which will be under the supervision of the Prime Ministry and which will manage the national register of companies.

The centre, once created, will publish on its website, an official Gazette to announce business operations and inform about their legal status. Advertising measures and tariffs will be governed by a government decree and the publications will have the force of law similar to those of the Official Gazette for commercial operations.

The bill will bring the services closer to the beneficiaries insofar as the services of the centre that will be created will be online services. Regional and local representations will be set up according to the proposals of this bill, which also provides for the creation of an up-to-date database on economic enterprises, traders and economic operators. This database will be accessible 24 hours a day.

Source: TAP News Agency

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