90% of Businesses Exempt From Federal Bill Mandating Ownership Disclosure: Report

90% of Businesses Exempt From Federal Bill Mandating Ownership Disclosure: Report
An empty store up for rent is seen in Montreal on June 8, 2020. Paul Chiasson/The Canadian Press
Amanda Brown
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Only around 10 percent of businesses in Canada are legally obliged to disclose ownership details to the federal government, says a Department of Industry briefing note. Ninety percent of companies are registered within their home province or territory and are not covered by the legislation.

The vast majority of Canadian businesses, therefore, are exempt from federal disclosure of ownership, and a proposed bill seeks to amend that, according to documents obtained by Blacklock’s Reporter.