The Ministry of Finance (MoF), has issued and published the here below the Decision No. 1472/1 dated September 27, 2018 with respect to the mechanism of defining the “Beneficial Owner” in accordance with the provisions of the Law No 74 dated 27/10/2016 (kindly refer to the folder Taxes in Your Rights). This MoF decision clarifies on the one hand the mechanism of defining the “Beneficial Owner” as regard to entities (20% of the shareholding or decision maker) and trusts (Settlor/Trustee/Protector/Beneficiary); and, on the other hand, reminds the taxpayers that they should keep accounting records and relevant papers showing all information related to the “beneficial owner” they are dealing with preserve these records and documents for a period of ten years; as well as to report to the concerned authorities the requested information in accordance with the above mentioned law No 74 and the anti-money laundering Law No 44 dated 24/11/2015.