New country-by-country reporting requirements for major multinationals doing business in Australia represent massive breakthrough for global tax transparency, and Treasury appeals misguided nationwide injunction against enforcement of the Corporate Transparency Act.
A nationwide preliminary injunction preventing Treasury from enforcing the Corporate Transparency Act “is a Christmas gift to criminals who use anonymous shell companies to traffic fentanyl, exploit people, and hide dirty money.”
Many companies, including as many as half of all large U.S. multinationals, will soon begin publicly reporting tax and other financial information for a range of high-risk jurisdictions typically associated with profit shifting and related tax avoidance schemes.
In this month’s news roundup, Treasury releases reporting form advancing landmark anti-money laundering regulations for U.S. residential real estate markets, FACT now hiring, and other highlights from FACT’s publications and our allies.
FACT submits comments to the House Ways and Means Committee on necessary international tax reforms for the 2025 tax fight, new research calls for a “follow the money” approach to environmental crimes, and FACT allies gather for illegal mining panel at COP16 Biodiversity.
