Tax agency to seek names of shareholders

The tax collectors are trying to win the right to know the names of stock holders in private corporations. A proposal to that effect appeared in a recent La Gaceta, and there likely will be some objection.

The reason for collecting the names is so that the tax agency, the Dirección General de Tributación, can collect a tax on the transfer of stock.

Some lawyers have said that this approach needs to be done as a matter of law and not by an executive decree.

The tax agency is famous for issuing decrees that are beyond its authority.

Companies that do business with the government already have to disclose their owners so that no officials benefit from contracts. And expats who own corporations have to provide this information to banks if they have an account.

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