Internationally, STEP has responded to the European Commission’s consultation on its proposed new EU system for the avoidance of double taxation and prevention of tax abuse in the field of withholding taxes.

In addition, STEP USA has produced two guidance notes in response to major policy initiatives in the US. The first note provides guidance and information on the US Corporate Transparency Act and proposed beneficial owner information reporting regime. The note covers aspects such as the scope of the new rules, reporting requirements, who is exempt and penalties for non-compliance. The second note provides information and guidance for trust and company service practitioners on the US sanctions that prohibit the provision of accounting, trust and corporate formation, and management consulting services to persons located in the Russian Federation. STEP continues to monitor developments in this area and will keep members apprised accordingly.

View STEP’s consultation tracker and guidance at www.step.org/public-policy/consultation-tracker