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.
Less than a week after the conclusion of the IACC, the Biden Administration took another big step toward meeting its anti-money laundering and anti-corruption commitments with the release of the second draft rule to implement the Corporate Transparency Act early today.
FACT Policy Director Ryan Gurule is quoted by Public News Time discussing the investor need for more detailed corporate tax information.
FACT Policy Director Ryan Gurule addressed the Securities and Exchange Commission’s Investor Advisory Committee today as part of a panel on emerging investor expectations regarding tax transparency.
The time is now for the U.S. Securities and Exchange Commission (SEC) to use its authority under current law to require large multinational enterprises (MNEs) to publicly report basic financial information on a country-by-country basis.
In advance of the Second U.S.-Africa Leaders’ Summit, leaders in the U.S. and Africa must seize the moment to advance a new partnership to curb Illicit Financial Flows, corruption, and tax dodging.
The bipartisan ENABLERS Act continues to gain steam heading into conference as an amendment to the annual must-pass defense bill, providing lawmakers with a historic opportunity to end the complicity of U.S. professionals in the laundering of illicit funds by kleptocrats and criminals the world over.
