Treasury Scraps Reporting Rule for U.S. Small Business Owners
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CNBC
The Treasury has scrapped the reporting requirement for U.S. small businesses to disclose beneficial ownership details, dramatically reducing the number of entities subject to these rules. This interim final rule, which exempts U.S. citizens and companies, has sparked debate among legal experts about potential loopholes for criminal activity.
The Treasury has scrapped the reporting requirement for U.S. small businesses to disclose beneficial ownership details, dramatically reducing the number of entities subject to these rules. This interim final rule, which exempts U.S. citizens and companies, has sparked debate among legal experts about potential loopholes for criminal activity.
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