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.
Thursday, December 5, 2019
The Global Reporting Initiative (GRI), which provides the world’s most widely adopted sustainability reporting framework, is set to publish its newest standard — on tax transparency — on Thursday, December 5th, 2019.
WASHINGTON, D.C. – A global sustainability standard-setting body finalized a proposal to have multinational companies publicly disclose basic financial information on a country-by-country basis — a move that was praised by transparency advocates.
November 1, 2019
Congress, FASB, GRI, UN PRI, the OECD, the EU, and others are all considering new disclosures around corporate tax planning. With increased scrutiny from governments on corporate tax strategies, what does it all mean for companies and their investors? A diverse group of institutional investors and other asset managers and analysts have all recently weighed in on the risks to investors and the need for additional disclosures. With opening remarks by SEC Commissioner Rob Jackson, a panel of experts will explain what new rules may be coming and the potential value to investors.
13 Senators sent a letter to the Financial Accounting Standards Board to urge them to boost tax transparency.
The FACT Coalition filed comments for the record to the House Subcommittee on Investor Protection, Entrepreneurship and Capital Markets. The subcommittee held the hearing “Building a Sustainable and Competitive Economy: An Examination of Proposals to Improve Environmental, Social and Governance Disclosures,” on July 10th, 2019. The full letter can be read below or downloaded here.
The FACT Coalition filed a comment on May 31, 2019 with the Financial Accounting Standards Board (FASB) on Proposed Accounting Standards Update for Income Taxes, File Reference No. 2019-500. The full letter can be read below or downloaded here.
