The FACT Coalition applauds the Australian Treasury for today’s budget proposal to enact strong public country-by-country reporting (PCbCR) requirements for certain large multinational enterprises, including entities headquartered in foreign jurisdictions.
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.
“We are pleased that Chair Gensler indicated today that the SEC is looking at the need for increased tax and financial reporting by big multinational companies to inform investors and other stakeholders,” said FACT Executive Director Ian Gary.
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).