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Who do you work for? sportmedics.com Ownership transparency is now an intergovernmental initiative, to stop tax avoidance and raise revenues. The G8 in June agreed that companies will need to identify beneficial owners, with a new UK database to be set up in Companies House. Enforcement of the rule may focus on banks as regulated entities. Banks were also commissioned to help stop tax avoidance through the US Foreign Account Tax Compliance Act, which is now being adopted globally.
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