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.
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.
FACT Policy Director Ryan Gurule is quoted by Politico on FASB’s progress towards greater tax disclosures and the remaining need for comprehensive PCBCR.
Less than a week after the conclusion of the IACC, the Biden Administration took another big step toward meeting its anti-money laundering and anti-corruption commitments with the release of the second draft rule to implement the Corporate Transparency Act early today.
FACT Policy Director Ryan Gurule addressed the Securities and Exchange Commission’s Investor Advisory Committee today as part of a panel on emerging investor expectations regarding tax transparency.
Key recommendations include requiring investment advisers to conduct basic customer due diligence, report beneficial ownership information, and countries of origin for investors in private funds.