Former Tax Director says not every case has a clear beneficial owner
An Island-based tax expert insists there are legitimate reasons for keeping beneficial ownership details private.
The Isle of Man, along with Jersey and Guernsey, has announced plans to open up beneficial ownership registers to comply with EU transparency laws.
Phillip Dearden has worked in the industry for over 25 years, and was previously Equiom's tax director.
He explains not every company or trust has a clear beneficial owner:
Businesses passing on the VAT reduction to families
Minister gives full backing to new hygiene ratings scheme for eateries
Poet says Gaiety's Katie Hopkins booking is 'not appropriate'
Almost 3,000 take part in Pilates world record attempt at Knockaloe