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Bill C-42

Canada passes landmark legislation to fight corruption, money laundering, tax evasion, and terrorist financing.

Canada passes landmark legislation to fight corruption, money laundering, tax evasion, and terrorist financing.

OTTAWA: Today, Bill C-42 successfully received Royal Assent, paving the way for Canada to have a publicly accessible registry that lists the ultimate beneficial owners of companies. Earlier last month, Senate members heard from the ‘End Snow-washing’ Coalition: Publish What You Pay Canada, Transparency International Canada, and Canadians For Tax Fairness who provided a strong endorsement for the legislation and urged members to ensure it gets through Canada’s Senate without delay. Yesterday, the bill successfully passed all stages of reading in Canada’s Parliament and today it received Royal Assent.

Coalition appears before Canada’s Senate to support federal legislation for a publicly accessible corporate beneficial ownership registry.

Coalition appears before Canada’s Senate to support federal legislation for a publicly accessible corporate beneficial ownership registry.

OTTAWA: Yesterday, Canada’s Standing Senate committee on Banking, Commerce and the Economy (BANC) heard from the ‘End Snow-washing’ Coalition: Publish What You Pay Canada, Transparency International Canada, and Canadians For Tax Fairness. The Coalition provided strong support of long-awaited legislation (Bill C-42) for a corporate beneficial ownership, which the Senate is studying. Should this bill pass, it will be a massive blow against money laundering, corruption, tax evasion, and terrorist financing.