Multinational companies do not publicly report on where they are making their money or what taxes they are paying to whom. Investors, policymakers, and citizens have no idea exactly how they are gaming the system—what they tell us versus what they tell other countries. They should have to write it down in one place and report it on a country-by-country basis, so that the public, policymakers, and shareholders can see what they are really paying.
Read FACT’s official comments to the Australian government on the implementation of Australia’s world-leading public country-by-country reporting regime.
Read FACT’s comments to the UN Tax Committee calling for the Committee to prioritize greater multinational tax transparency in the form of public country-by-country reporting.
New country-by-country reporting requirements for major multinationals doing business in Australia represent massive breakthrough for global tax transparency, and Treasury appeals misguided nationwide injunction against enforcement of the Corporate Transparency Act.
Many companies, including as many as half of all large U.S. multinationals, will soon begin publicly reporting tax and other financial information for a range of high-risk jurisdictions typically associated with profit shifting and related tax avoidance schemes.
FACT urges appropriators to oppose a harmful House measure that would deny funding to the nation’s accounting standards setter unless it withdraws a long-awaited corporate income tax disclosure rule.
In his latest blog, FACT executive director Ian Gary argues that tax reform must be at the center of the “financing for development” agenda, and that multinational tax transparency has a key role to play in helping Global South countries generate revenues to fund their development needs.
