Comments supporting SEC Corporate Disclosure Rules on Tax Haven Subsidiaries

Americans for Tax Fairness and its allies are pressuring the Securities and Exchange Commission to require U.S. corporations to disclose all of their foreign subsidiaries and the amount of taxes those subsidiaries owe the United States.

“The SEC should adopt a strong regime for disclosure of all corporate subsidiaries. Based on studies done by ATF and numerous other organizations, it is clear that the SEC’s current standard for subsidiary disclosure is inadequate. It is also critical that corporations be required to disclose their subsidiaries’ names, location, legal entity identifier number and their relation to the parent entity,” Americans for Tax Fairness Executive Director Frank Clemente wrote in the organization’s official comment submitted to the SEC.