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GRI Pushes Stock Exchange, Government Reporting Requirements
April 15, 2016
The Global Reporting Initiative ("GRI") has published a press release applauding efforts from stock exchanges and governments around the world to set out guidelines and, in some cases, requirements for businesses to report on "environmental, social, and governance" factors in addition to their financial information.
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GRI Builds Network to Advance "Sustainability" Agenda
April 14, 2016
In a recent press release, the Global Reporting Initiative ("GRI") explains how it works with a network of UN agencies, governments, stock exchanges, and other organizations to pressure businesses to engage in reporting on and fulfillment of the UN's comprehensive Sustainable Development Goals.
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EU Proposes Country-by-Country Corporate Tax Reporting
April 14, 2016
Politico reports that a European Commission proposal would require multinational companies operating in the EU with a turnover exceeding EUR 750 million to report taxes they pay and other financial information for each EU country in which they operate and for every country outside the EU that, according to the Commission, does not "abide by tax good governance standards."
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UN Agent Pushes Global Tax Information Exchange
April 14, 2016
In response to the release of the "Panama Papers," which show funds secretly stored offshore by individuals and corporations, the UN Independent Expert on foreign debt and human rights, Juan Pablo Bohoslavsky, has called for a global tax information exchange in order to reduce tax avoidance and facilitate the funding of nontraditional economic, social, and cultural rights.
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OECD Chief Criticizes Panama's Financial Secrecy
April 14, 2016
In response to the "Panama Papers" leak, in which media outlets publicized funds secretly held in Panama by individuals and corporations, Organisation for Economic Co-operation and Development ("OECD") Secretary-General Angel Gurría has called on Panama to implement the OECD's global tax transparency standards to prevent the hiding of offshore funds.
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