The FACT Coalition sent a letter to Treasury Secretary Steven Mnuchin urging support of beneficial ownership disclosure. The full letter can be read below or downloaded here.
The FACT Coalition filed a comment on December, 2018 with the Internal Revenue Service (IRS) on a proposal removal of Section 385 documentation regulations (REG-130244-17). The full letter can be read below or downloaded here.
Global Reporting Initiative’s Proposal Could Bring Public Country-by-Country Reporting of Taxes, Profits, Revenues, and Employees to More than 4,000 Companies
Plan Comes as U.S. Senators Call on GM to Disclose Country-by-Country Data
WASHINGTON, D.C. – A global sustainability standards-setting body issued a proposal Thursday to have multinational companies publicly disclose basic financial information on a country-by-country basis, in a move praised by transparency advocates. The Sustainability Reporting Standards from the Global Reporting Initiative (GRI) are voluntarily followed by over 4,000 businesses in more than 90 countries. The draft GRI “Standard on Tax and Payments to Governments” was developed by a multi-stakeholder technical committee consisting of representatives from PricewaterhouseCoopers, MFS Investment Management, Vodaphone PLC, and the Tax Justice Network, among others.
Investors and Analysts Call for More Disclosures around Offshore Tax Practices as Shifting Tax Policies and Increased Enforcement Actions Impact Shareholder Value
WASHINGTON, D.C. – Investors are at an increasing risk from the lack of information disclosed by companies about their tax practices, according to a new analysis published today by the Financial Accountability and Corporate Transparency (FACT) Coalition.
WASHINGTON, D.C. — Senate lawmakers introduced legislation Thursday that would make it harder for multinational corporations to game the offshore provisions in the newly adopted tax overhaul. Sponsored by Sen. Amy Klobuchar (D-MN), the Removing Incentives for Outsourcing Act (S.3674) would ensure that tax rates for profits booked offshore are applied on a per-country basis, rather than on a worldwide average basis — reducing the chance of gaming.
The FACT Coalition filed a comment on November 26, 2018 with the Internal Revenue Service (IRS) on proposed rules for the implementation of TCJA provisions. The full letter can be read below or downloaded here.
