A former top Treasury official laid out the case for public country-by-country reporting requirements for U.S. multinationals at a recent Senate Budget Committee hearing, and a long-awaited rule introducing anti-money laundering responsibilities for investment advisors is now under regulatory review.
UN Development Dialogue highlights growing momentum for public country-by-country reporting, Canada passes public beneficial ownership reporting requirements, and the UN votes to begin international tax reform negotiations.
FACT executive director Ian Gary joined experts and allies from Oxfam America, Tax Justice Network Africa, UNDP, and the Australian and Nigerian governments for a panel on global tax transparency as a part of the UNDP’s Dialogue on Tax and SDGs in New York.
In her debut blog, FACT policy director Zorka Milin details how the ongoing Microsoft profit shifting dispute makes a clear case for greater tax transparency requirements for major multinationals.
Progress on public country-by-country in jurisdictions around the globe continues to reinforce the need for decisive action by the Securities and Exchange Commission to set a consistent, strong standard for multinational public tax reporting.
Widespread adoption of public country-by-country reporting requirements could be the silver bullet African nations need to overcome numerous challenges, including the scourge of illicit financial outflows and tax evasion.
