On September 2, the Executive Power issued an amending decree of the Decree No. 166/017 of June 26, 2017 (regulation of Fiscal Transparency Law No. 19.484).
The time elapsed since the entry into force of the obligation to identify and communicate the final beneficiaries of different entities, has made it clear that the casuistry was more complex than what the regulations initially contemplated. For this reason, some of the modifications made by the aforementioned decree are the extension of the list of obliged subjects and situations excepted from identifying the final beneficiary.
In relation to this issue, it is worth mentioning that the National Internal Audit, the comptroller body in the matter of the Fiscal Transparency Law, has begun to monitor compliance with the regulations. In this regard, it has begun with citations to entities with the objective of seeing their compliance with the communication and procedure for the identification of the final beneficiaries.