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.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to the Global Reporting Initiative in support of their exposure draft on “Tax and Payments to Governments”.
The FACT Coalition joined Americans for Tax Fairness, Public Citizen, Global Financial Integrity and others to send a letter to GRI supporting the “Tax and Payments to Governments” exposure draft. The full letter can be read below or downloaded here.
More Than Two Dozen Institutional Investors sent a letter to GRI supporting the “Tax and Payments to Governments” exposure draft. The full letter can be read below or downloaded here.
Members of Congress sent a letter in support of a proposal from the Global Reporting Initiative to require the disclosure of tax and payments to governments.
“No Tax Breaks for Outsourcing Act” Endorsed by 57 National Organizations, Sponsored by 80 Members of Congress
WASHINGTON, D.C. – Eighty lawmakers introduced legislation Wednesday that would equalize the tax rates for domestic businesses and multinational corporations — reducing the tax incentive to shift profits and operations overseas that were enacted under the recent tax overhaul, according to the Financial Accountability and Corporate Transparency (FACT) Coalition.
Global Reporting Initiative’s Proposal Could Bring Public Country-by-Country Reporting of Taxes, Profits, Revenues, and Employees to More than 4,000 Companies
Plan Comes as U.S. Senators Call on GM to Disclose Country-by-Country Data
WASHINGTON, D.C. – A global sustainability standards-setting body issued a proposal Thursday to have multinational companies publicly disclose basic financial information on a country-by-country basis, in a move praised by transparency advocates. The Sustainability Reporting Standards from the Global Reporting Initiative (GRI) are voluntarily followed by over 4,000 businesses in more than 90 countries. The draft GRI “Standard on Tax and Payments to Governments” was developed by a multi-stakeholder technical committee consisting of representatives from PricewaterhouseCoopers, MFS Investment Management, Vodaphone PLC, and the Tax Justice Network, among others.
