
Small Businesses Back the Disclosure of Tax Havens and Offshore Act
Members of the small business community voice their support for the Disclosure of Tax Havens and Offshore Act (H.R. 5933).
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.
Members of the small business community voice their support for the Disclosure of Tax Havens and Offshore Act (H.R. 5933).
Investors managing over $800 billion in assets call on Congress to increase tax transparency through public country-by-country reporting.
102 nonprofit labor, civil rights, and environmental, and other NGOs urge Congress to support public country-by-country reporting.
Transparency International says the Disclosure of Tax Havens and Offshoring Act (H.R. 5933) will “lift the veil of secrecy on certain payments to governments by large multinational companies.”
FACT sent comments to the United Nations High Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Agenda (FACTI Panel).
On May 12, Clark Gascoigne, Interim Executive Director of the FACT Coalition, offered remarks during the Organization for Economic Cooperation and Development’s public consultation on BEPS Action 13, which addresses country-by-country tax reporting. His comments underscored both the need and public momentum for making such reports public.