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FACT Calls for Swift Implementation of Public Country-by-Country Reporting in Comments to Australian Senate

July 21, 2023

FACT welcomes the Australian Senate’s introduction of important updates to disclosure requirements surrounding the subsidiaries of public companies, and recommends that Parliament swiftly introduce final legislation to mandate public country-by-country reporting.

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FACT Submits Statement Ahead of House Hearing on Beneficial Ownership Implementation

July 18, 2023

Read FACT’s statement for the record outlining the urgent need for additional funding and support for the Financial Crimes Enforcement Network, the Bureau of Treasury tasked with implementing the landmark Corporate Transparency Act.

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FACT Sheet: The Disclosure of Tax Havens and Offshoring Act

June 22, 2023

The FACT-endorsed Disclosure of Tax Havens and Offshoring Act requires large multinational corporations to begin public country-by-country reporting of tax and operational data to the Securities and Exchange Commission.

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FACT Submits Comments to FASB on Proposed Revisions to Topic 740

May 30, 2023

In comments submitted May 30, FACT recommended that the Financial Accounting Standards Board expand its proposed revisions to tax disclosure requirements to include additional information on revenues, income, and effective tax rates on a disaggregated basis.

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FACT Submits Comments to the Australian Government Welcoming Groundbreaking Tax Transparency Draft Legislation

April 28, 2023

In comments submitted on April 28, FACT applauded the Australian government’s draft legislation to mandate public country-by-country reporting of tax data from large multinationals, and offered recommendations for effective implementation of the new tax transparency regime.

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FACT Submits Comments Urging IRS to Continue Country-by-Country Data Collection

March 6, 2023

The FACT Coalition commends the IRS for its ongoing efforts to collect country-by-country reporting data on Form 8975, as well as its aggregation and publication of related information.

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