The Financial Accountability and Corporate Transparency (FACT) Coalition, member of the Global Alliance for Tax Justice (GATJ), invites you to the launch of its latest report, A Material Concern: The Investor Case for Country-by-Country Reporting.
Investors are fumbling around in the dark trying to assess tax and geopolitical risks facing multinational companies. FACT’s latest report spotlights examples of dramatic revenue and tax implications for investors stemming from global events and tax practices of major multinational companies like Amazon, Pfizer, McDonalds, Shell, and Dell, that current public company disclosure requirements fail to address.
Prudent investors increasingly are asking for information that will allow them to allocate capital in light of growing international momentum for tax enforcement and reform meant to crack down on profit-shifting and base erosion in light of existential threats like climate change. Investors reading headlines regarding the Russian invasion of Ukraine, and its impact on international operations of the companies they own may have had no prior knowledge of the extent of these risks despite perfectly compliant SEC filings.
To tackle the uncertainty investors face, FACT recommends that the Securities and Exchange Commission use its current rulemaking authority to implement public country-by-country reporting (PCbCR). FACT’s report demonstrates the meaningful insights that would be provided by PCbCR with respect to free cash flow, corporate governance and operational practices, as well as geopolitical concerns.
Join FACT and leading corporate and investor voices to discuss the findings of the report and the importance of PCbCR to achieving more efficient and transparent capital markets.
Katie Hepworth, Responsible Tax Lead at PIRC
Emma Roberts, Vice President International Relations & Public Policy, BHP
Ryan Gurule, Policy Director, Financial Accountability and Corporate Transparency (FACT) Coalition