More Than Two Dozen Institutional Investors sent a letter to GRI supporting the “Tax and Payments to Governments” exposure draft. The full letter can be read below or downloaded here.
Members of Congress sent a letter in support of a proposal from the Global Reporting Initiative to require the disclosure of tax and payments to governments.
Global Reporting Initiative’s Proposal Could Bring Public Country-by-Country Reporting of Taxes, Profits, Revenues, and Employees to More than 4,000 Companies
Plan Comes as U.S. Senators Call on GM to Disclose Country-by-Country Data
WASHINGTON, D.C. – A global sustainability standards-setting body issued a proposal Thursday to have multinational companies publicly disclose basic financial information on a country-by-country basis, in a move praised by transparency advocates. The Sustainability Reporting Standards from the Global Reporting Initiative (GRI) are voluntarily followed by over 4,000 businesses in more than 90 countries. The draft GRI “Standard on Tax and Payments to Governments” was developed by a multi-stakeholder technical committee consisting of representatives from PricewaterhouseCoopers, MFS Investment Management, Vodaphone PLC, and the Tax Justice Network, among others.
