The legislation – expected to pass through the Australian Parliament this year – represents the first public country-by-country reporting regime with global reach to be advanced by any major jurisdiction.
Also this week: a new blog by FACT government affairs director Erica Hanichak, and a great upcoming panel discussion cohosted by FACT, GATJ, and the Nawi Collective.
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.
