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Tax & Legal

Final beneficiary

The Legislative Decree 1372, regulates the obligation for the companies and / or legal entities to inform the identity of their final beneficiaries. The objective of this regulation is to provide the competent authorities with precise and updated information regarding the final beneficiary. All this is made in order to fight against the crimes of money laundering, terrorism financing and national and international tax evasion, with this the compliance of the administrative assistance in tax matter is guaranteed.

The final beneficiary (*) is defined as:

  • The Person who effectively and finally owns or controls a company or legal entities, in accordance with the provisions of article 4 from the tax legislation.
  • The natural person who finally owns or controls a customer or on whose behalf a transaction is made.

OBLIGED SUBJECTS

 The obligated subjects that are required to submit the Declaration of the Final Beneficiary are the companies and legal entities required to identify, obtain, update, declare, retain and provide information on the final beneficiaries to the administration, including the supporting documentation.