US companies have resisted the public country-by-country reporting of key financial information that is necessary for adequate tax transparency. Hess and Newmont’s announcements show that US companies are finally catching up with their international peers.
he Financial Accountability and Corporate Transparency (FACT) Coalition applauds the Securities and Exchange Commission (SEC) for standing with investors and advancing an Amazon.com, Inc. shareholder proposal asking the company to voluntarily engage in public country-by-country reporting (PCbCR).
WASHINGTON, D.C. – A global sustainability standard-setting body finalized a proposal to have multinational companies publicly disclose basic financial information on a country-by-country basis — a move that was praised by transparency advocates.
Investors, Businesses, and Policymakers Increasingly Take Steps Toward Public Country-by-Country Reporting of Tax Information
WASHINGTON, D.C. – Public disclosure of multinational corporations’ disaggregated profits and taxes is steadily progressing toward a global norm as investors, businesses, and policymakers have increasingly taken steps toward transparency, according to a new study published Tuesday by the Financial Accountability and Corporate Transparency (FACT) Coalition.
The Financial Accountability and Corporate Transparency Coalition (FACT Coalition) sent a letter to the Global Reporting Initiative in support of their exposure draft on “Tax and Payments to Governments”.
The FACT Coalition joined Americans for Tax Fairness, Public Citizen, Global Financial Integrity and others to send a letter to GRI supporting the “Tax and Payments to Governments” exposure draft. The full letter can be read below or downloaded here.
