FACT’s Executive Director Ian Gary is quoted in Law360:
Knowing where corporations book profits is a material concern for investors because of the changing global tax environment, especially around tax havens, according to Ian Gary, executive director of the nonprofit Financial Accountability and Corporate Transparency, or FACT, Coalition.
“We are pleased that Chair Gensler indicated today that the SEC is looking at the need for increased tax and financial reporting by big multinational companies to inform investors and other stakeholders,” Gary said in a statement Thursday.
Gary lauded Van Hollen for raising the issue as well as sponsoring the Disclosure of Tax Havens and Offshoring Act, which would require the SEC to put in place public country-by-country reporting requirements, according to the statement.
“Jurisdictions around the world, including the European Union and Australia, are moving to increase tax transparency, and the U.S. should follow suit,” Gary said.
The full, original article is accessible on Law360’s website here