As key jurisdictions around the globe implement enhanced tax transparency measures for major multinational corporations, the U.S. risks falling behind to the detriment of American investors and workers, at a time when U.S. policymakers are considering important tax reforms.
A new petition from investors with $2.3 trillion in assets under management calls for additional tax transparency from U.S.-listed multinationals, Treasury updates its timeline for key anti-money laundering rulemakings, and the U.S. announces a new initiative targeting the proceeds of environmental crimes in the Amazon.
A new petition filed on behalf of 87 investors with more than $2.3 trillion in assets under management calls on the U.S. Securities and Exchange Commission to require greater tax transparency from U.S.-listed companies.
Australia’s recently-introduced public country-by-country reporting legislation would dramatically improve tax transparency for major multinational corporations, benefiting investors, lawmakers, journalists, and the general public.
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.
