Defining Beneficial Ownership: Implications for Preventing Tax Avoidance and Tax Evasion-Related IFFs in Africa (Hardcover) (ISBN-13: 9789403545592)

The fight against illicit financial flows (IFFs) in Africa hinges on a simple question: Who ultimately owns and controls companies and assets? Across tax, anti-money laundering (AML), and corporate governance regimes, the concept of beneficial ownership (BO) is central to identifying the natural persons behind legal structures. Yet, definitions, thresholds, and disclosure obligations vary widely between jurisdictions, creating exploitable gaps.

This pioneering book provides the first comprehensive comparative legal study of BO definitions and implementation in Africa, anchored in international frameworks such as Financial Action Tax Force Recommendations, the UN Convention against Corruption, the OECD's Global Forum standards, the EU Anti-Money Laundering Directives, and the Extractive Industries Transparency Initiative.

Using a descriptive-analytic method, the author examines the content, scope, and operationalization of BO requirements across:

• tax transparency and exchange of information;

• anti-money laundering and counter-terrorist financing regimes;

• corporate law and governance structures; and

• public procurement and extractive industry licensing.

The analysis draws on detailed country case studies of Kenya, Nigeria, and South Africa, revealing both legal innovations and persistent enforcement challenges. The book also proposes a model BO definition.

With its deep integration of comparative law, policy analysis, and practical reform measures, this book has no peers. It will be indispensable to:

• tax and AML/Countering the Financing of Terrorism regulators;

• policymakers and legislative drafters;

• legal practitioners and compliance officers;

• academic researchers; and

• civil society organizations advocating for transparency.