The distorted and varied interpretations of the concept “beneficial owner” have led to a risk of double taxation and non-taxation, prompting the OECD to seek clarity on the term’s meaning. But feedback suggests that their proposals for change could actually cloud the definition further.
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China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap