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Renaissance Oil Corp. RNSFF

Renaissance Oil Corp is engaged in the acquisition, development, and production of oil and natural gas in Mexico. The group's properties include Mundo Nuevo, Topen, Malva, and Ponton.


GREY:RNSFF - Post by User

Comment by hydrocarbsson Oct 25, 2018 9:45pm
88 Views
Post# 28875516

RE:Sedar

RE:Sedar Several thoughts...This term, beneficial ownership, was concocted by the wonderfully inventive folks who labor away in the US IRS. They determined that too many people were, are harboring financial gain in offshore accounts. In order to identify these skofflaws, the IRS did what they always do, install additional regulations. Thus the Beneficial Ownership rule inside the FATCA, Foreign Account Tax Compliance Act. The Beneficial Ownership Rule. ... The intent of the Beneficial Ownership Rule is to assist authorities in counteracting money laundering, tax evasion, and other financial crimes. FinCEN requires all financial institutions to begin collecting the required information for new accounts opened no later than May 11, 2018. At least, this is what I have found. So, if I get this understood correctly, the date Nov 13 is the date used to determine share count ownership for the FATCA reporting purposes. I do not get the understanding that the term beneficial ownership implies the capacity to exert control over the business and affairs of ROE.
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