Tax Transparency | Page 12 | The FACT Coalition

FACT Recommends Key Tax Transparency Reforms as Australia Weighs Public Country-by-Country Reporting

September 6, 2022

The Financial Accountability and Corporate Transparency (FACT) Coalition commends the Australian Treasury for its commitment to implement public country-by-country reporting (PCbCR) and submitted comments last week encouraging the adoption of PCbCR best practices. FACT encourages the U.S. Securities and Exchange Commission (SEC) to move quickly to also adopt PCbCR best practices to address information asymmetries between multinationals, investors, policymakers, and other users of financial statements.

Bloomberg Tax: Investors Fly Blind Without Public Country-by-Country Reports

August 30, 2022

Without public country-by-country reporting, investors have little knowledge about the tax strategies of companies they own and the degree to which they may be engaging in risky tax behavior. The Securities and Exchange Commission must address the chasm between what companies know and what they disclose to investors.

Congress Finally Stands up to Tax Dodgers, but International Tax Loopholes Persist: Just the FACTs: August 24

August 24, 2022

On August 16, President Biden signed the Inflation Reduction Act (IRA) into law. The IRA, among other things, creates a corporate alternative minimum tax (CAMT) that applies a 15 percent minimum tax on the largest corporations worldwide, aggregate “book” income, adjusted for certain identified tax preferences.

Revenue Raisers in Inflation Reduction Act Better Position U.S. for Ending Tax Dodging by Multinational Enterprises, But There is Much Left to Accomplish: Just the FACTS: August 9

August 9, 2022

On August 8, the FACT Coalition applauded the inclusion of crucial investments in the Internal Revenue Service (IRS), and specific measures to combat tax dodging by multinational corporations in the Inflation Reduction Act of 2022, which the Senate enacted over the weekend.

A Material Concern: The Investor Case for Public Country-by-Country Tax Reporting

July 28, 2022

FACT’s latest report, “A Material Concern: The Investor Case for Public Country-by-Country Tax Reporting,” explores how public country-by-country reporting (PCbCR) efforts have matured and, in doing so, shown their increasingly apparent usefulness to investors.

Investors Blind to Geopolitical, Tax Risk Without Public Reporting of Key Financial Data, Report Finds

July 28, 2022

Investors are exposed to material tax and geopolitical risks because of a lack of tax and other financial transparency, according to a report released today by the Financial Accountability and Corporate Transparency (FACT) Coalition. To give investors greater visibility into these material risks, the FACT Coalition report calls on the Securities and Exchange Commission (SEC) to use its current authority to implement rules for public country-by-country reporting (PCbCR) regarding revenues, profits, operations, and taxes paid and accrued.