Offshoring Act News Today

From NFTs to the Dirty Dozen, tax havens to FBAR, policymakers had their hands full during the first three months of 2023. What were the most impactful tax stories of the first quarter,...

Lawmakers introduced two pieces of legislation to require public companies to disclose their financial reporting on a country-by-country basis and strengthen the IRS's whistleblower program.

Bernard van Gerrevink and Hilde Atsma of KPMG Meijburg & Co and Jenny Wong of KPMG Australia explain why tax transparency is set to become an integral part of ESG disclosures.

Experts from KPMG explore tax transparency from a global standpoint

As investors' calls for greater climate-related corporate accountability grow louder, the "E" in ESG—environmental, social and governance—looms larger than ever, particularly from the perspective of...

To embed, copy and paste the code into your website or blog: On June 21, 2021, US financial regulators met with US President Joe Biden to discuss the US economy and update him on their efforts to address climate-related risks. According to the White House readout of the meeting, the regulators said “they were making steady progress” on implementing President Biden’s executive order on climate-related risk. The briefing follows last week’s passage of HR 1187, the Corporate Governance Imp...

US House passes bill that could shine a spotlight on corporate tax avoidance Credit: WikiMedia Commons In its current form, the Disclosure of Tax Havens and Offshoring Act would require large corporations registered with the SEC to disclose taxes paid and other financial information about their operations and subsidiaries on a country-by-country basis. According to the Financial Accountability and Corporate Transparency (FACT) Coalition, the act -- if passed -- could provide a "spotlight" on c...

Minnis: Bahamas’ financial services sector shrinking Prime Minister Dr. Hubert Minnis acknowledged yesterday that The Bahamas’ financial services sector is shrinking due to global pressure. “The offshore financial services sector, our number two industry, has been shrinking due to a vastly different and much more stringent global regulatory environment,” Minnis said. He made his comments while opening the 2021/2022 national budget debate in the House of Assembly, making those remarks ...

The country. some companies are actually leaving not only because taxes are so high, but they cant get their money and they are actually leaving to get their money. we are going to simplify that. we are going to have them bring the money back into our country and use the money and spend the money on building our country. and the offshoring act, established tariffs to discourage companies from laying off workers in order to relocate in other countries and ship their products back to the united st...

High, but because they cant get their money, and they are actually leaving to get their money. we are going to simplify that, were going to have them bring the money back into our country, and use the money and spend the money on building our country. [ applause ] end the offshoring act. establish tariffs to discourage companies from laying off their workers in order to relocate in other countries and ship their products back to the united states, tax-free. they leave the united states, like c...