63 Investors with $2.9 trillion in Assets Under Management Send Letter to FASB in Support of Tax Transparency
63 Investors with $2.9 trillion in Assets Under Management Send Letter to FASB in Support of Tax Transparency
FACT Provides Comments to Financial Accounting Standards Board Urging Country-by-Country Tax Reporting
FACT recently sent comments to the Financial Accounting Standards Board (FASB) urging them to adopt country-by-country tax reporting as part of its public consultation on the Board’s priorities. FASB sets and oversees the Generally Accepted Accounting Principles, the standard followed by most U.S. corporations in their financial reporting, and so could bring about widespread adoption of public country-by-country reporting as a way to ensure investors are fully able to assess reputational and regulatory risks in their portfolios.
FACT Coalition Mourns the Passing of Senator Carl Levin
he Financial Accountability and Corporate Transparency (FACT) Coalition mourned the passing of Senator Carl Levin of Michigan. Levin, who for many years held leadership positions with the Senate Permanent Subcommittee on Investigations, used his powerful position to investigate money laundering, tax avoidance and evasion, and the many ways in which corrupt actors abused the U.S. financial system for personal gain.
Promise and Peril for Global Minimum Tax at OECD Negotiations: Just the FACTs: July 26
Following last month’s historic agreement on a 15 percent global minimum tax rate at the G7 Finance Ministers meeting, a groundbreaking 130 countries came together to support the Organization for Economic Cooperation and Development (OECD)’s Inclusive Framework, in another sign of accelerating progress on global taxation reform.
House Takes Historic Step in Advancing Corporate Tax Transparency
The Financial Accountability and Corporate Transparency (FACT) Coalition hailed today’s passage of the Disclosure of Tax Havens and Offshoring Act in the House of Representatives. Championed by Rep. Cynthia Axne (D-IA), the legislation, included as Title V of the Corporate Governance Improvement and Investor Protection Act (H.R. 1187), requires multinational corporations registered with the Securities and Exchange Commission (SEC) to disclose their taxes paid and other key financial information publicly on a country-by-country basis.
FACT Sends House Leadership Letter Endorsing Title V of Corporate Governance Improvement and Investor Protection Act (H.R. 1187)
FACT Sends House Leadership Letter Endorsing Title V of Corporate Governance Improvement and Investor Protection ACT (H.R. 1187)