The Disclosure of Tax Havens and Offshoring Act would shine a light on the abuse of offshore tax havens by requiring multinational corporations to publicly report overseas tax and operational data on a country-by-country basis.
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.
In an encouraging signal of anti-corruption progress to come in 2023, the Treasury Department announced its intention to release a draft rule targeting money laundering through US real estate markets this April.
Microsoft investors representing more than $305 billion voted in favor of a shareholder proposal calling on the company to publicly disclose information about its offshore operations and tax practices on a country-by-country basis at Microsoft’s annual general meeting.
FACT Policy Director Ryan Gurule addressed the Securities and Exchange Commission’s Investor Advisory Committee today as part of a panel on emerging investor expectations regarding tax transparency.
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.
