Norwegian government proposes to CUT ALL FUNDING for the completion of the Norwegian Beneficial Ownership Registry.
@alexcobham @thomtownsend @_LouiseRP @TaxJusticeNet @mairarmartini @anticorruption @OpenOwnership
Kap 904 / Post 21 here (in Norwegian):
regjeringen.no/contentassets/…
@alexcobham @thomtownsend @_LouiseRP @TaxJusticeNet @mairarmartini @anticorruption @OpenOwnership
Kap 904 / Post 21 here (in Norwegian):
regjeringen.no/contentassets/…
Norway is one of few European countries that lack a BO register, despite being a member of the Beneficial Ownership Leadership group of the Open Government Partnership. OGP is convening tomorrow for the Regional Meeting in Rome. @opengovpart 
Although being a laggard, @TaxJusticeNorge has hailed the high ambitions for the quality of the Norwegian BO register. The register is scheduled for completion by 01.01.2024. A "basic" version will go online 01.0.2023. apenhet.no/blogg/apenhet-…
If development of the register stops with the basic version, the register will be useless.
All systems for ensuring quality of data was scheduled for phase 2, and needs funding for 2023. This includes system to report errors, systems for detecting failure to report owners,
All systems for ensuring quality of data was scheduled for phase 2, and needs funding for 2023. This includes system to report errors, systems for detecting failure to report owners,
a solution for submitting BO data on foreign trusts,a solution for showing intermediary entities between the Norwegian company and the Beneficial Owner, a system for giving fines for non-compliance with the register, and a solution for reporting Norwegian Foreign-owned entities.
As the register will be fully automated, these systems are essential.
Basically, all the elements of the register that would provide data quality as well as increase transparency of foreign entities and owners that wish to be anonymous are now in risk of not being completed.
Basically, all the elements of the register that would provide data quality as well as increase transparency of foreign entities and owners that wish to be anonymous are now in risk of not being completed.
The future of the Norwegian BO register is in peril.
The budget will now have to be passed by Parliament, and the register must be saved by the opposition parties.
@kariekas @vampus @Lan_Marie @kjellingolf @Rotevatn @roysteffensen @mariesneve @vonKnag @Lindacath @rasmusjmh ++
The budget will now have to be passed by Parliament, and the register must be saved by the opposition parties.
@kariekas @vampus @Lan_Marie @kjellingolf @Rotevatn @roysteffensen @mariesneve @vonKnag @Lindacath @rasmusjmh ++
@kariekas @vampus @Lan_Marie @kjellingolf @Rotevatn @roysteffensen @mariesneve @vonKnag @Lindacath @rasmusjmh @ThreadReaderApp unroll
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