COVID-19 Tax Update: B.C. Transparency Register In-Force Date Delayed to October 1, 2020

On April 6, 2020, the B.C. government announced that the coming into force date for the new “transparency register” requirements will be delayed until October 1, 2020. Originally slated to be effective May 1, 2020, recently-enacted amendments to the Business Corporations Act (B.C.) will mandate every private company incorporated in B.C. to create and maintain a transparency register listing extensive personal details in respect of each significant shareholder of the company. The announcement noted that the extension is part of the B.C. government’s broader response to the COVID-19 pandemic (described here).