https://www.taxtmi.com/news?id=15146 SIT urges proactive detection of shell companies by systematic data mining of the company registry for red flag indicators (common director identifiers, multiple firms at one address, sudden turnover shifts, exclusive mobile contacts) and recommends sharing identified high risk companies with tax and financial intelligence agencies for surveillance; where accommodation entries are established, cases should be referred for criminal investigation and anti money laundering action. The summary also stresses disclosure of beneficial ownership and notes widespread instances of individuals holding directorships in an unusually large number of companies breaching director limit norms. en-us Tue, 03 Nov 2015 15:03:52 +0530 Tue, 03 Nov 2015 15:03:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=15146 SIT urges proactive detection of shell companies by systematic data mining of the company registry for red flag indicators (common director identifiers, multiple firms at one address, sudden turnover shifts, exclusive mobile contacts) and recommends sharing identified high risk companies with tax and financial intelligence agencies for surveillance; where accommodation entries are established, cases should be referred for criminal investigation and anti money laundering action. The summary also stresses disclosure of beneficial ownership and notes widespread instances of individuals holding directorships in an unusually large number of companies breaching director limit norms. News - Tue, 03 Nov 2015 15:03:52 +0530 https://www.taxtmi.com/news?id=15146