U.S. Senators Reintroduce Legislation Targeting Tax Havens, Offshoring, and Outsourcing

U.S. Senator Chris Van Hollen (D-MD) has announced the reintroduction of the Disclosure of Tax Havens and Offshoring Act on 11 May 2021, which would introduce requirements for companies to publicly disclose basic information on their subsidiaries, as well as country-by-country financial information (i.e., the information of CbC reports already required by the IRS for groups with consolidated revenue of USD 850 million).

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VAN HOLLEN, AXNE INTRODUCE BICAMERAL LEGISLATION TO PROVIDE TRANSP…