The Canadian federal government has introduced a Bill requiring the disclosure of individuals with 'significant control' over federal private corporations, as first announced in the 2017 federal budget.
It may be the first step in a mandated government registry recording the beneficial ownership of all private corporations, says law firm Moodys Gartner, which notes the recent introduction of trust reporting rules to identify beneficiaries, trustees, and settlors in tax years ending after 30 December 2021.
