Corporate Financial Transparency: Ending Tax Haven Secrecy
New rules require large multinational companies to disclose detailed financial information for each country they operate in. This aims to increase transparency and make it harder to avoid paying taxes. Citizens can better understand where companies generate profits and pay taxes, potentially leading to a fairer tax system.
Key points
Large multinational companies must disclose revenues, profits, taxes paid, and employee numbers for each country.
This information will be publicly available online, increasing corporate transparency.
The goal is to limit profit shifting to low-tax countries, potentially increasing tax revenues in the U.S.
Expired
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