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.
“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,” said FACT Executive Director Ian Gary.
In response to a question from Senator Van Hollen in a Senate oversight hearing, Chair Gensler says the SEC is considering disclosures to give investors better insights into where corporations book profits and pay taxes.
