Part Two: FACT’s 2023 Springboard for International Tax and Tax Transparency Reforms
Why 2023 is the year that FACT is pushing the SEC to use its authority to advance public country-by-country tax and operations reporting.
OCCRP: Australia Considers Groundbreaking Tax Transparency Law
Australia may become the first country to require a wide range of MNEs (multinational enterprises), including some headquartered in the United States, to report key tax and operating information that is fully disaggregated on a country-by-country basis,
ICIJ: Australia Aims to Force Corporations to Report Which Countries They Pay Taxes To
It is vital that Australia maintain its proposed definition and implement final laws that require [public country-by-country reporting] from any [multinational corporation] with established taxable contacts in Australia,” Ryan Gurule, policy director at the FACT Coalition, said in a statement.
Australian Advancement of Public Country-by-Country Reporting Builds Pressure for U.S. Action
The FACT Coalition applauds the Australian Treasury for today’s budget proposal to enact strong public country-by-country reporting (PCbCR) requirements for certain large multinational enterprises, including entities headquartered in foreign jurisdictions.
FACT Recommends Key Tax Transparency Reforms as Australia Weighs Public Country-by-Country Reporting
The Financial Accountability and Corporate Transparency (FACT) Coalition commends the Australian Treasury for its commitment to implement public country-by-country reporting (PCbCR) and submitted comments last week encouraging the adoption of PCbCR best practices. FACT encourages the U.S. Securities and Exchange Commission (SEC) to move quickly to also adopt PCbCR best practices to address information asymmetries between multinationals, investors, policymakers, and other users of financial statements.