The global drive towards corporate transparency has seen an increasing number of jurisdictions adopting Ultimate Beneficial Ownership register (UBO) reporting requirements.

On 25 June 2018, the Sixth Directive Amending the Directive on Administrative Cooperation in Tax Matters (EU DAC 6) came into force, obligating intermediaries and/or taxpayers to disclose ‘potentially aggressive tax planning arrangements’ to their tax authorities, intending to minimise the use and promotion of such schemes.