Comment on Russia probe boosts bill to crack down on shell corporations

Russia probe boosts bill to crack down on shell corporations

[...] Sen. Sheldon Whitehouse, D-R.I., is renewing his push for restrictions on companies or countries that hide assets from tax authorities and law enforcement as he and other lawmakers look into Russian campaign meddling. The legislation would require states to obtain information on the true owners of corporations formed under state law and make that information available to law enforcement. The original bill was introduced after the so-called Panama Papers were released last year, showing how some of the world's richest people hide assets in shell companies to avoid paying taxes.

 

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