The legislation – expected to pass through the Australian Parliament this year – represents the first public country-by-country reporting regime with global reach to be advanced by any major jurisdiction.
Also this week: a new blog by FACT government affairs director Erica Hanichak, and a great upcoming panel discussion cohosted by FACT, GATJ, and the Nawi Collective.
The Disclosure of Tax Havens and Offshoring Act would shine a light on the abuse of offshore tax havens by requiring multinational corporations to publicly report overseas tax and operational data on a country-by-country basis.
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.
FACT Policy Director Ryan Gurule is quoted by Public News Time discussing the investor need for more detailed corporate tax information.
