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sharing in governance of extractive industries

Beneficial Ownership Disclosure in Indonesia: Close the Loops for Advancing Governance

Panama Papers which revealed the hidden wealth of global leaders and politicians, including 1,038 of Indonesian taxpayer, shows that corporations are prone to misuse for money laundering practices. As a global understanding, that perpetrator misuse corporation to hide and conceal the origin of asset, and most of the perpetrator identified as beneficial owner. Therefore, beneficial ownership disclosure is urgent to be implemented in Indonesia, particularly to expose and deal with the financial crime, as in money laundering as well as tax evasion, increase tax revenue, and also support the investment climate.

A number of global commitments on beneficial ownership disclosure has been declared by the government and joint advocacy work between government and non-government actors, including civil society, has been developed since then. Publish What You Pay (PWYP) Indonesia collaborating with other key stakeholders, published a brief to document the journey of beneficial ownership disclosure in Indonesia. The brief consists of global commitment announced by the government of Indonesia, concrete action taken by the government in pursuing beneficial ownership disclosure as well as civil society work in the beneficial ownership advocacy. 

You can download the brief on: https://pwyp-indonesia.org/en/458662/beneficial-ownership-disclosur...

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