As key jurisdictions around the globe implement enhanced tax transparency measures for major multinational corporations, the U.S. risks falling behind to the detriment of American investors and workers, at a time when U.S. policymakers are considering important tax reforms.
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.
FACT applauds the introduction of new anti-money laundering regulations requiring members of the $130 trillion investment advisory industry to collect and record basic details about their clients.
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.
Under new standards, many U.S. companies will now have to provide additional information on their total cash taxes paid across jurisdictions, as well as more effectively break down the calculation of their effective tax rates for a given income year.
