FACT Urges Treasury To Make Critical Improvements to Draft Regulation Implementing Landmark Corporate Transparency Act

The FACT Coalition calls on the Treasury Department to address critical weaknesses in a new proposed rule with the potential to severely undermine the effectiveness of the Corporate Transparency Act.

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FACT Applauds Australia’s Introduction of Groundbreaking Tax Transparency Legislation with Global Reach

The legislation – expected to pass through the Australian Parliament this year – represents the first public country-by-country reporting regime with global reach to be advanced by any major jurisdiction.

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Global Civil Society Groups Turn Up the Pressure on U.S. Treasury to Tackle Dirty Money and Financial Secrecy at Home

Global civil society organizations collectively representing more than 100 groups sent a letter to U.S. Treasury Secretary Janet Yellen today calling on the U.S. to advance specific, meaningful financial transparency reforms to ensure the U.S. does its part to defend worldwide freedoms in the wake of the second Summit for Democracy. 

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Support for Multinational Tax Transparency Reaches New High as FACT Allies Lead Shareholder Proposal Push

June 1, 2023 | Press Releases & Statements

Oxfam America leads the push for tax transparency in the extractives sector, FACT submits comments to FASB on proposed income tax disclosure revisions, and Australia prepares to vote on public country-by-country reporting.

FACT Submits Comments to FASB on Proposed Revisions to Topic 740

May 30, 2023 | Comment Letters

In comments submitted May 30, FACT recommended that the Financial Accounting Standards Board expand its proposed revisions to tax disclosure requirements to include additional information on revenues, income, and effective tax rates on a disaggregated basis.

New Analysis Shows Investors Representing $10T Support Greater Tax Transparency for Large Multinationals

May 11, 2023 | Press Releases & Statements

FACT Coalition member Oxfam America released new statistics detailing support by investors with over $10 trillion in assets under management for public country-by-country reporting of tax and operational data for large multinationals.

Need for Additional FinCEN Funding Front and Center at Congressional Hearing

May 4, 2023 | Newsletter

Top Treasury officials outline recent and upcoming anti-money laundering initiatives before Congress, and FACT submits comments advising swift passage and implementation of new Australian tax transparency draft legislation.