Why 2023 is the year that FACT is pushing the SEC to use its authority to advance public country-by-country tax and operations reporting.
2023 promises to be a very busy year for FACT as we continue to push for international tax reform to fight tax dodging by large multinationals.
The Administration must accelerate its efforts on AML by fully implementing U.S. anonymous entity beneficial ownership transparency rules and advancing long-overdue regulatory overhauls on U.S. real estate and private investment fund markets within the coming year.
Ahead of COP27, the U.S. can certainly point proudly to its historic investments of hundreds of billions of dollars into clean energy. An additional way for the Biden administration to bolster its climate policy is by finishing the job on a slew of anti-corruption reforms.
US companies have resisted the public country-by-country reporting of key financial information that is necessary for adequate tax transparency. Hess and Newmont’s announcements show that US companies are finally catching up with their international peers.
Let’s talk statistics. On an average year, anywhere between 300 billion to 2 trillion U.S. dollars are laundered globally. To put it into perspective, this sum rivals the economic output of Brazil, the world’s eighth largest economy. As numbers grow, the United States’ position on money laundering and financial transparency policies continues to falter, further …