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.
FACT provides Senate testimony twice in one week, and Treasury’s new draft rules for real estate transactions and investment advisers draw the U.S. closer to shedding it’s status as the world’s number-one destination for dirty money.
Read FACT policy director Zorka Milin’s full written testimony before the Senate Budget Committee, which details policy recommendations to curb offshore tax evasion by individuals and major multinationals.
Treasury says it will continue ownership information reporting after legal setback in Alabama, and FACT provides comments on Australia’s revised public country-by-country reporting draft legislation.
While Australia’s revised public country-by-country reporting draft legislation walks back the original measure’s ambitious scope, it still represents a meaningful step forward for multinational tax transparency.
