Financial Transparency Coalition

The FTC recently submitted a letter to the Financial Accounting Standards Board (FASB) to outline steps that could be taken by the organization to further improve the standards for income tax disclosure by companies in the United States. 

Ahead of the 14th Session of the United Nations Conference on Trade and Development, the FTC has submitted recommendations on why illicit financial flows should be a central pillar of the conference, and the broader agenda of trade and development. UNCTAD 14 will take place in Nairobi, Kenya from 17-22 July 2016. Read the submission here

Recently, the FTC sent letters to Pascal Saint-Amans, head of the Center for Tax Policy and Administration at the Organization for Economic Cooperation and Development (OECD) and Monica Bhatia, head of the Secretariat of the Global Forum. In these letters, and the attached proposal, we’ve asked OECD member governments to allow data from the new automatic information

The United States Internal Revenue Service is in the process of implementing country-by-country reporting for multinational corporations, in line with the OECD BEPS process. As part of the rulemaking process, the IRS hears comments on the proposed rule from various members of the public. The FTC Director, Porter McConnell, gave testimony at an IRS hearing