November 28, 2022
SEC’s Investor Advisory Committee Meeting Next Week: Tax Transparency on Agenda
In developing the Strategic Plan that it released last week, the SEC took into account information gathered from many sources – including Congress and congressional committees, investors, businesses, academics, other stakeholders, comments to rule proposals, and more. It also considered input from SEC roundtables and advisory committee meetings. On that note, the Investor Advisory Committee continues to be an active group, and the SEC has announced another upcoming public meeting on December 8th.
The agenda includes a panel discussion on corporate tax transparency. Here’s more detail:
This panel will focus on the potential benefits to investors of greater tax transparency, including country-by-country tax reporting. New regulations require companies to provide this information to tax authorities, but investors currently do not have access to this information. Given financial, reputational and regulatory risks of a company’s tax practices, investors need more information to be able to evaluate the scope of tax risks facing multinational companies. The speakers will provide an overview of the existing requirements, emerging investor expectations and new transparency requirements in other jurisdictions, and provide insight on how regulators and standard-setters might address the existing information gaps.
– Liz Dunshee